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<p>Yes…because you HAVE that UGMA to help fund your education.</p>
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<p>You have LESS financial need because you HAVE money in that UGMA to help pay for college costs. If your parents earn $100K a year, their EFC is going to be in the $25K range regardless of where that UGMA account is held.</p>
<p>I think what you are saying is that your parents HOPED to use that UGMA to fund your total cost of attending college. The big question is how much can they afford to contribute including the UGMA and any other money they can/will contribute.</p>
<p>If the amount that the UGMA generates is the budget within which you need to work, you need to find some schools within that budget.</p>