Parent of a HS junior here, just now starting to seriously research the intricacies of the financial aid process.
Per the topic title, I cannot locate anything specific online about how assets are handled for divorced parents when calculating aid on the CSS - only for the FAFSA.
Is there the equivalent of an asset protection allowance for schools that require the CSS, and if so, how does it work for divorced parents?
I’m the custodial parent but also the younger of the two parents. I mention that I’m younger because I’ve read some things specific to the FAFSA suggesting that the older parent is the only one who receives the protection allowance.
In practical terms, I’m trying to figure out if burning cash from say, $15000 to $5000 to pay down debts (and reduce my assets) would impact expected aid for CSS schools or if that money is already protected in some way due to an allowance.
Any insights would be greatly appreciated.