AARP CASH INVESTMENT FUNDS
24F-2NT, 1997-12-30
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                        UNITED STATES
             SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C.  20549


                         Form 24F-2
              Annual Notice of Securities Sold
                   Pursuant to Rule 24f-2


   Read instructions at end of Form before preparing Form.
                    Please print or type

- --------------------------------------------------------------------------------
1.  Name and address of issuer:
                         AARP Cash Investment Funds
                         Two International Place
                         Boston, MA 02110
- --------------------------------------------------------------------------------
2.  The name of each series or class of securities for which this
    Form is filed (If the Form is being filed for all series and
    classes of securities of the issuer, check the box but do not
    list series or classes):                                /_ /

                         AARP High Quality Money Fund


- --------------------------------------------------------------------------------
3.  Investment Company Act File Number:

                         811-3650

    Securities Act File Number:

                         2-81427
- --------------------------------------------------------------------------------
4(a). Last day of fiscal year for which this Form is filed:


                         September 30, 1997

    Note: If the Form is being filed late, interest must be paid
    on the registration fee due.
- --------------------------------------------------------------------------------
4(b). /_ / Check box if this Form is being filed late (i.e., more than 90 
           calendar days after the end of the issuer's fiscal year).  (See 
           Instruction A.2)

- --------------------------------------------------------------------------------
4(c). /_ / Check box if this is the last time the issuer will be filing this 
           Form.
- --------------------------------------------------------------------------------

<PAGE>

5.  Calculation of registration fee:

    (i)    Aggregate sale price of securities sold 
           during the  fiscal year pursuant to section
           24(f):                                                  $605,160,963
           --                                                      ------------

    (ii)   Aggregate price of securities redeemed or
           repurchased during the fiscal year:         $545,990,940
                                                       ------------

    (iii)  Aggregate price of securities redeemed 
           or repurchased during any prior fiscal
           year ending no earlier than October 11, 1995 
           that were not previously used to reduce
           registration fees payable to the commission:   $0
                                                           -

    (iv)   Total available redemption credits              
          [add items 5(ii) and 5(iii)]:                           -$545,990,940
                                                                   ------------
                                                        

    (v)    Net sales - if item 5(i) is greater
           than item 5(iv) [subtract item 5(iv) 
          from item  5(i)]:                                        $59,170,023
                     -                                             -----------
                                           
- ------------------------------------------------------------------------------
        (vi)   Redemption credits available for use in future years           
             - if item 5(i) is less than item 5(iv) [subtract item 5(iv) 
             from item  5(i)]:                           $(0)
                        -                                --- 
- ------------------------------------------------------------------------------
    (vii)   Multiplier for determining  registration fee 
           (See Instruction  C.9):                         x  1/3300
                                                              -------

    (viii)  Registration fee due [multiply item 5(v) 
            by item 5(vii)] (enter "0" if no fee is due):   =$17,930
                    -               -                        -------
- ------------------------------------------------------------------------------
6.  Prepaid Shares

    If the response to item 5(i) was
    determined by deducting an amount of
    securities that were registered under
    the Securities Act of 1933 pursuant to
    rule 24e-2 as in effect before October
    11, 1997, then report the amount of
    securities (number of shares or other
    units) deducted here:  0  .  If there    
    is a number of shares or other units
    that were registered pursuant to rule
    24e-2 remaining unsold at the end of
    the fiscal year for which this form is
    filed that are available for use by the
    issuer in future fiscal years, then
    state that number here:                      0
                                                 -
- --------------------------------------------------------------------------------
7.  Interest due - if this Form is being
    filed more than 90 days after the end                
    of the issuer's fiscal year (see
    Instruction D):                                                  +$0
                                                                      --
- --------------------------------------------------------------------------------
8.  Total of the amount of the registration
    fee due plus any interest due [line                   
    5(viii) plus line 7]:                                            =$17,930
    -                 -                                               -------
- --------------------------------------------------------------------------------
9.  Date the registration fee and any
    interest payment was sent to the        
    Commission's lockbox depository:                   12/01/97

    Method of Delivery:
                      /_ /   Wire Transfer
                      /X /   Mail or other means
                      --
- --------------------------------------------------------------------------------

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<PAGE>

                                   SIGNATURES


This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.


By (Signature and Title)* /s/Thomas F. McDonough
                         ------------------------------------------
                          
                         -------------------------------------------

Date   ______________________________

*Please print the name and title of the signing officer below
                       the signature.


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