OP here - Thank you for the responses!

No. It will only be part of the calculation if your parents die and you inherit the money. Beneficiaries can be changed at any point, so it would never be counted before you inherit.

I don’t think this would come up on the Fafsa, but it might on the CSS which many colleges require as supplemental information for financial aid evaluation. Others will know more but this is a start.

Just found out that my parents set up a TOD Mutual Fund Account to help pay for DDs college expenses that lists me as the beneficiary. It is not a 529 college account. Our DD is an only child, so we have not been through the Financial Aid/ Merit Aid process before with another child and have not seen the forms or info required. Does anyone know if me being listed as a beneficiary of this account will hurt DDs chances for aid? Would this amount count as income? Since DD is a junior, we still have time to fix this if necessary. Any info or resources would be most appreciated. Thank you.