u/medico2022

I heard about the Fidelity / Schwab Youth Brokerage accounts and am considering opening one for our teen to learn about saving, investing, and spending.

For those with this type of accounts, how does it affect your child's FAFSA? My understanding is that this has a greater impact on financial aid because the assets are in the child's name rather than the parent’s.

Is it better to stay away from these type of accounts?

I’m also considering the Capital One MONEY Teen Checking account. Does this type of account affect financial aid eligibility?

Any information is appreciated.

I heard about the Fidelity Youth account and am considering opening one for our teen to learn about saving, investing, and spending. For those with this account, how does it affect your child's FAFSA? My understanding is that this has a greater impact on financial aid because the assets are in the child's name rather than the parent’s.

I heard about the Capital One Teen Checking account and am thinking of opening one for our teen to learn about saving and spending. For those with this account, how does this affect your child's FAFSA? My understanding is that this has a greater impact on financial aid because the assets are in the child's name rather than the parent’s.

Any info is appreciated.