If you open a Roth IRA for yourchild to help fund college expenses, howwill it affect the financial aid packagewhen the time comes for college? Money in a Roth won'tchange any federal need-based aid. Colleges might look at thecash in the Roth when it comes to offeringtheir own financial aid. If you thinkthere's little chance that your child willqualify for need-based aid from the college,a Roth is an excellent idea. As longas your child has earned income in 2004,they can contribute up to $3000, or100% of any earnings, whichever is less.If Sis balks at putting her hard earnedmoney into a Roth, you can do itfor her, as long as you don't put in morethan she actually earned.