My ex and I have been separated doe over ten years and legally divorced this year. We have two children together, one starting seventh grade, the other a rising HS senior. I have been CP of both the entire separation. I have received support the entire time. My youngest has moved into his fathers this summer and it’s presumed he will be there until college. Since I have been low income head of household for two dependents, will my EFC change drastically with one less dependent? I will no long receive CS since my rising senior will be 18 soon and he plans to support her directly (which I’m totally fine with.) Is it negligible or should we put off the changes for now? It’s difficult for me to use NPC since its two households.
Your EFC? Or your D’s?
You know…a lot depends on the colleges your kiddo applies to.
If this kiddo applies to FAFSA only schools, only your income and assets from the 2015 tax year will be used.
BUT if the kiddo applies to any schools using,the Profile, the financial info from both oarents from the 2015 tax year will be required.
Really for,the FAFSA only schools, yoir kiddo would be looking at possible Oell Grant eligibility (if your income is low enough) and the $5500 Direct Loan…and possibly some state aid for low income parents.
I guess the question is…are you low income? Having one less kiddo in your household will,have a small impact. However, it might not really have a lot of affect on college financial aid.
Will your daughter have lived with you at least 6 months of the previous 12 as of the day she submits the FAFSA?
My daughter attends boarding school on FA. So, my address is her address but technically she is not there.
She will be applying to both public and private schools.
If she lives with you more than your ex, you are the CP for FAFSA. If not, he may be. Her legal address is not the boarding school.
My question is related to the change in siblings residence. I’m firmly within low income, their father is barely middle class. I’m hoping that small change won’t affect her chances for QB match or other scholarships and need based FA. Incomes have stayed relatively unchanged for last three years.
You need to make sure she continues to use your address as her primary, and that she actually spends at least more night at your house. That’s for FAFSA. For CSS, both of your incomes will count.
If this arrangement is what you’ve all decided to do, that’s what will be reported. If your son is spending 183 days at one house and 182 at the other, it would be a lot better if that one extra day was at your house for FAFSA purposes. For tax purposes, your ex can still claim him as a dependent. If he’s spending 300 days with your ex, he should not be reported as part of your household on FAFSA.
You can try a few different scenarios the college board website and see what your results are.