<p>Wait a minute, here is what the OP wrote</p>
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<p>I read this as relatives having contributed the money, not the parents. That might be a distinction that some schools who work with the Profile will consider. You’ve got some generous relatives if they contributed money towards your college education. It might be them that chose the route of a UGMA, it’s a straight-forward way to gift money to a minor for their college fund.</p>
<p>Transferring the funds to a 529 might help you out under the circumstances. One poster has already verified that this will help with the FAFSA, I would also be interested in the answer to the question of whether this will help with the Profile.</p>