Does money in a trust fund in a child's name hurt the chances for college aid?Does access age matter?
407009
I don't know, but if the kid has a trust-fund he probably doesn't need financial aid and it should be left to those who really do.
986746
It depends. \nUsually, it's when the child turns 18, or finishes high school if they turn 18 before they graduate. \nBut in some cases, the judge rules that the non-custodial parent has to continue the support when a child goes to college until he/she graduates college. \nIf the child gets emancipated and/or married younger than 18, then support stops.\n\nIt will say in the order how long support is ordered for. There are a lot of circumstances that can occur that can change a support order in the future, so make sure you have a current copy for an exact age.
473901
As far as Federal Student Aid is concerned, your situation is a little complicated.  If your brother is dependent and his parents are living, he is *required* to put his parents income information on the FAFSA, regardless of where they live.  If they have no income, that's fine -- just put $0.  However, if he does not complete the section that asks for parent information, his FAFSA will be rejected until he fills in ALL of the required fields. \n\nFederal Student Aid regulations do not recognize "grandparents, legal guardians, and foster parents" as parents when it comes to the FAFSA.   It may sound weird or unfair, I know, but, unfortunately, the regulations that govern Federal Aid have not quite caught up with the wide variety of living situations that exist in these days.  In order for you to be considered your brother's guardian as far as financial aid goes, you would *literally* have to adopt him. \n\nBut don't go that far... As it stands right now, your brother should be able to obtain Federal Student Aid by doing one of the following:\n\n(a) Entering his parents' information on the FAFSA -- income, assets, name, date of birth... all of it.\n(b) Going to his school's Financial Aid Office to ask what documentation they need to classify him as an independent student.  Schools make these changes *at their discretion*, so in order for the Dependency Appeal to be processed and approved, he should be able to explain how he supports himself without the aid of his parents.  (Your school may also be willing to approve a Dependency Appeal simply on the grounds that your parents live outside the U.S., so he should just be honest when he asks.) Don't worry: Being considered independent often makes a student eligible for MORE money, not less.
34980
That depends.  You can open a simple bank account with a designation ITF (In Trust For), you can do this at your bank.  You can also open up an investment account in your name and then write into your will that should you die, the beneficiary will get the assets.  These 2 ways will allow you to still have some control over the trust assets, because it's not a formal trust -- it's a trust in your mind.\n\nAnother easy way is to just open up some kind of account (bank or investment) in their name.  You're done.\n\nYou can do this with a lawyer but the problem with that is that this may prevent you from ever touching these assets, which most good attorneys don't recommend.  The only reason for you to use an attorney and get what's called an 'Irrevocable Trust' is if there's some reason for you to protect the assets essentially from yourself.
136237
If you can get the scholarships and money to do it, and you are of legal adult age, your parents have no recourse.  If you go against their will without changing their minds, though, don't be surprised if they are unwilling to help if things go wrong (though I would never be that way with my kids, some parents are).
1136437
http://ww.fastweb.com... used this service about 9 years ago when i went back to school at 28-30.  my BEST advice is pick a school (probably going to be close to you now?) and visit the financial aid office.  their job is to help you help them get money. they really have a lot of information from years of service.  other sources are any jobs, organizations, skills, past hobbies, etc - they can be very weird yet valuable criteria for some scholarships...YES IT IS TRUE ..there is a scholarship for a red-haired, left-handed golfer....i've seen it.  use the web. find a school. then start from there, know how much college costs before you start looking. communitie colleges are a GREAT VALUE for the first 2 years. best of luck. 3 peices of advice.  1. always sit in the front row. 2. be an active participant. 3. work in groups when possible, but if you cant - study, study, study.  and as my old man always said."Remember this son, you are paying them to teach you. YOU decide the value of your education." \nas a ps.the "foundation library" in any major city library will have alot of nonprofits listed that tell who and why people got grants from them, and you can use it as a reverse lookup....see who got the money and what you have to do to qualify......alot of money goes unclaimed, at that point the scholarship committee will usually accept ANY applicant (very very little known fact) so as to "spend" the money given to them.....even if you are a blond- haired, right-handed golfer......
692778
you need to have your son contact his financial aid office.  grants generally do not have to be paid back, but depending on the grant (where it is from) your sons gpa/and courses attemped vs. courses passed may prove to be a problem.\n\nbecause of the family rights and privacy act... that isnt something that you could find out.  your son has to either sign a privacy wavier or do his own research.\n\ngood luck
568968
IT DEPENDS ON YOUR POSITION. IF YOUR A FAMILY MEMBER IT SHOULD BE FAIRLY EASY TO SPEAK WITH THE FAMILIES ATTORNEY AND GET THE INFORMATION. IF YOU DON'T HAVE A VESTED INTEREST IT MAY BE A LITTLE MORE CHALLENGING, THESE TRUSTS ARE RECORDED BUT AREN'T GENERALLY A MATTER OF PUBLIC RECORD. IT WOULD PROBABLY BE WISE TO DISCUSS W/AN ATTY. IF YOU HAVE A GENUINE NEED TO KNOW A JUDGE COULD GRANT A REQUEST TO PROVIDE INFORMATION TO YOU.
569661
Courts Can Order Payment of College Expenses Even Though the Child Has Reached Majority.\nAt one time, majority was reached at age 21. When it was reduced by law to age 18, a new problem was presented: Could the court order a parent to pay for his or her children's college expenses as child support, despite the fact that they would be over 18 when the payments were made? In most states, that question has been answered in the affirmative - if the parent has sufficient resources - although the courts are not required to make such orders.\n\nwas there an agreement to provide support for college filed with the courts? if you are not financially able to pay the college expenses , no they cannot make you. They do not court order married custodial parents to pay college if they are where they are able to or not. I do not think they can force you to, or kids all over would be suing parents for financial payment for college.
166151
Yes. If you were born in or before 1982, your parents income can not be counted. The financial aid office can not use your parents income in determining your eligibility. \n\n(Also if you had a child or are married, they can not use your parents income.)
594075
Perhaps once you graduate from grade school she will give it to you.  \n\nIs it in a trust?  Are there stipulations for getting the money?  Perhaps she is just adhering to the guidelines of the trust.
799136
Fafsa should help. Depending on your dependant/independant status, you wouldn't need your mom's income info.
128373
as long as you provided over half of his support and he didnt make to much money than you can claim him. the not over 18 unless a full time student than it is up to 24 years of age rule  (the quy above me was talking about) is only applied to the earned income credit. a dependent can be eny age its just that the child credits go by age. i do taxes.
1105802
I went to a SUNY School many years ago.  My financial aid was held up, but I think the fact of the matter was that the school had the money and didn't release it to us (they didn't admit that, of course).  If you take the hundreds of thousands or even millions of dollars in aid that a whole college gets, and you put that in an interest bearing account for 30 days, it probably generated thousands of dollars in interest for the school to add to it's operating budget for that year.
880252
Yes, grants are only issued to students who are need based, so if your family's income exceeds a certain amount, you may not be eligible for a grant. Loans and scholarships are still an option for you though! Hope that helps!
676279
yup, as long as you have a social # and stuff you can buy them, im 15 and  i know cause my friends parents invested money for him ever scince he was born so he could have collage money or something like that. and i know other people.
573602
I did take a course so that I could prepare individual income tax returns, and I learned about the ways I can 'manipulate' the tax system to my benefit without cheating; like planning to attend school in a year that I may not be able to claim a child turning 17 that year, for instance.  I may even get a better credit for being considered a freshman or sophomore (up to $1500) than the $1000 child tax credit. I may no longer be 20 years old, but it seems that going back to school in my later years will pay off in several ways. :)