Preparing for college with a savings account?

Question

I will be a junior this upcoming school year and I am excited for college. (Yes, I know it's 2 years from now, but it's never too early to prepare, you know?) My dad says that having my own savings account will hurt my chances of receiving a greater financial air package. Is this true?

If you have any more tips or advice regarding preparing financially for college, I would love to hear them! Thanks!

Answer 1

I don't think having your own saving account will effect your chances of receiving financial air package.  In two years time, or maybe a little less, I doubt you would even have that much to worry about.   I think when you apply for financial aid they look into your parents income, and your savings account does not come into play.   And if anything, that may be something that is showing how responsible you are being at a young age.  

FYI -- don't sign up for a credit card at college!  This is the way so many young people ruin their credit!

Thanks for reading!