Student Loan Glossary Definition (English)
Uniform Gifts To Minors Act - Ugma Defined
The following is in context to Student Loan, because it's common for a single word to have multiple meanings you will find additional research links near the bottom of the page.
"Legislation that introduced a manner of transferring property to minors without the complications of trusts or guardianship restrictions. In essence, this federal act allows an adult to place up to $10,000/year in a custodial account for a child without incurring a gift tax. The monies in a UGMA account can be invested into mutual funds, bank accounts, or stocks. The adult controls the fund until the child reaches the age of majority."
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Expert Dictionary: Uniform Gifts To Minors Act - Ugma
Dictionary: Uniform Gifts To Minors Act - Ugma
