529 Plan and College Savings

Archive for July, 2006

Question: bank account and college?

does having a bank account (savings or checking) interfere with college application for financial aid, scholarship, or anything like? if it does, what’s the limit on the bank account and what kind of bank account (student personal, checking, saving) that starts to affect college application?

Answer: Just having a bank account will not effect your college application for financial aid. In fact, I think that it shows responsibility by having an account.

If you are asking this question it probably means that you won’t the amount you have won’t effect your standing for schlorship. If you have enough in your account to pay for your entire degree, that may be a different question though.

Caitlyn: Iowa State Savings Bank – Youth Advantage Checking Customer