<p>I agree with kelsmom and mom2. The EFC can’t take a single dime of your money, regardless of where you put it. If you and your high school senior choose an expensive college that doesn’t offer merit or need-based aid, however, that’s what’s going to cost you. Even if your college doesn’t count any of the money in that account, they still might not give you enough aid to avoid having to borrow or spend a lot of money out of the account.</p>