Do funds in the custodial account affect eligibility for financial aid of the beneficiary?
Yes. A Custodial account may impact an application for college financial aid.
If the student owns the account, it counts toward their own net worth. If their legal parent(s) own the account, it counts toward the net worth of the parent(s).
For more information on filing a FAFSA, refer to the Federal Student Aid website.“Kids Portfolio” is a custodial UGMA / UTMA account. Money in a custodial account is the property of the minor. This type of account is a Non-Discretionary Managed account.
Related questions View all Custodial
Q. Managing Your Stock-Back® Debit Card
Stash makes managing your Stock-Back® Debit Mastercard® easy. You can order a new card, activate your card, How can I order a new card? You can easily order a replacement Stock-Back® Card1 24/7 right from your Stash account.…
Q. Securities Lending
Securities lending is a kind of investment activity that allows whole-share owners of securities to earn extra income by loaning out their shares. Partial share owners are not eligible for securities lending. The owner of the whole-share (the lender) loans their securities to a financial institution,…
Q. Linking your External Bank Account with Micro-deposits
Looking for an easy way to transfer money on and off of Stash? Link your external bank account to your Stash account! There are two ways to link your external bank account to Stash: Login to your external bank account from the Stash website [learn more here] Request micro-deposits into your external bank account [keep reading below for more info] Micro-deposits are two small amounts (usually less than $0.50) that Stash deposits into your external bank account.…
Didn’t find your question?
Tell us what you’re looking for, and we’ll search for resources that could help.Ask your question
Fiduciary 101: Why it’s Our Job to be Your Advocate
It’s a big word that means a lot when it comes to handling your money. It defines a relationship built on trust and duty.