Change in assets and multiple children in college - year 2 and beyond

Paying for College
1

<p>How does a significant change in assets during year 2 apply to FAFSA. With 2 children in college in year 2 and a significant change in assets how does FAFSA and the college adjust for that in terms of financial aid. </p>

<p>Any advice on how to handle this</p>

2

<p>Alot of it depends on who becomes the custodial parent and whether the kids apply to FAFSA only schools or the 300 or so colleges that require Profile. The financial aid forms for a student applying in fall 2012 will be based on income/assets from Jan. 2012 - December 2012. It will depend on when you actually separate. You are already into the financial base year. Make sure you also understand how college costs will play out in the divorce degree.</p>