How To Pay For College [Video] Should You Save for College in the Student’s Account or Parents’ Account? Written by Shannon Vasconceloson January 28th, 2020 I came to College Coach with close to 10 years of experience in college financial aid offices. I began my career at Boston University, where I counseled students and their parents on the financial aid process and reviewed undergraduate financial aid applications. At Tufts University, where I served as assistant director of financial aid, I developed expertise in the field of health professions financial aid. I was responsible for financial aid application review, grant awarding and loan processing, and college financing and debt management counseling for both pre- and post-doctoral dental students. I have also served as an active member of the Massachusetts Association of Student Financial Aid Administrator’s Early Awareness and Outreach Committee, coordinating early college awareness activities for middle school students; as a trainer for the Department of Education’s National Training for Counselors and Mentors, educating high school guidance counselors on the financial aid process; and as a volunteer for FAFSA Day Massachusetts, aiding students and parents with the completion of online financial aid applications. Learn More About Shannon paying for college, saving for college, Saving for college is always a good idea. While having significant money in the bank may reduce financial aid eligibility slightly, the amount you save will always help you pay for college much more than the small loss of financial aid will hurt you. But did you know that which family member’s name you save in can have a dramatic effect on the financial aid calculations? Tune in to the latest installment of our video series, We Can Explain, to learn if it’s better to save in the student’s account or the parents’ account. Click here to watch “Saving for College – Tips You Need to Know.” And don’t forget to subscribe to our YouTube Channel to keep up-to-date on all the latest college planning tips from our college admissions and finance experts. Related Resources Read | Posted on May 15th, 2025 Understanding Cosigner Release for Private Student Loans Read | Posted on April 28th, 2025 College Tax Breaks: Staying Organized for Tax Season Read | Posted on March 18th, 2025 5 Reasons to Have a Job in College
