I was going to talk to a career center faculty person but I had no time to do so. This is because I am about to turn 18 but want to know if this affects financial aid and if so, so I can wait until I gradaute college and save up until then and invest.
Yes, it will count against your eligibility. It will probably translate into you not receiving as much for your student loan amount. There are a few loopholes you could exploit at this time to circumvent this roadbump. Do you have a dad? Does he like large amounts of money? I shouldn't have to say much more. If you keep it in your bank account or in your possession at all you have to disclose this information on your federal application, or face huge fines and jail time. Another question, does your dad like to invest money that people give him? Good luck dude.
Savings are savings. It should count against you the same whether you have the money in the bank or in stocks. It is still better to save that money now and have less loans to pay back later.
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