<p>Ici, I’m glad to hear you are truly looking for legitimate options here.</p>
<p>To the others, I don’t deny that buying a car would be a legitimate use of funds in a UTMA; I deny that it would be a useful way to increase financial aid.</p>
<p>Buying your child a $20,000 car will not necessarily result in a $20,000 increase in financial aid and therefore would not be a useful strategy if the goal is to maximize funds for college. The CSS Profile provides a standardized way to allow financial aid offices to determine need. Completing it honestly will show that the student owns a $20,000 car purchased in August of his senior year. As a result, from the standpoint of the college, the student’s total assets will be the same as before the car was purchased, and from the standpoint of whoever is paying the bills, his assets are now a whole lot less liquid.</p>