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.”

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Written by Shannon Vasconcelos
Shannon Vasconcelos is a college finance expert at College Coach. Before joining College Coach, she was a Senior Financial Aid Officer at Tufts University and Boston University. To learn more about Shannon, be sure to read her bio on getintocollege.com.