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Reply to "If your kids have UTMAs"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Be sure UTMA/UGMAs are appropriate for your family before using them. If you're likely to be donut hole, UTMA/UGMAs are treated as the kid's assets for FAFSA/CCS purposes. See https://howtopayforcollege.com/blog/utmas-and-the-fafsa Also, above a fairly low income (can't remember the amount), the income gets taxed at the parent's rate.[/quote] Whatever on the FASFA. Most DCUM posters' kids will never qualify for needs-based aid anyway. It's merit-based scholarships, sports scholarships, or ROTC/ Military Academy which are not impacted by the FASFA.[/quote] True for "most" on here but a warning might just keep some random prole who wanders into this thread from wasting every dime they (or some generous friend/ancestors) put into one. [/quote]
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