Touted as an "IRA for children," Trump Accounts promise to give your child a "head start on the American Dream." Trump Accounts, explainedTrump Accounts, created under President Trump's One Big Beautiful Bill Act, are tax-deferred investment accounts for Americans under age 18. Read more: The overlooked group Melania Trump helped add to Trump AccountsHow Trump Accounts may play a role in college aidThe Free Application for Federal Student Aid (FAFSA) assesses your eligibility for student aid, including federal grants, student loans, and work-study programs. To determine your eligibility, it considers the cost of attendance (COA) for a particular school and the Student Aid Index (SAI). Read more: Trump accounts vs. IRAs and 529s: How do they stack up?