CSS Profile and Divorced Parents with Unequal Assets

maryrich
Sat, 21 Nov 2020 23:34:37 +0000

My last child will start college in 2022. His dad and I have been divorced almost 2 years. He got the house in the divorce and it has around 80k in equity. I have very little in assets and very little in AGI income. Around 29000 for last year. I’m going to school to get a better job. His dad doesn’t really have a great income as he is self employed. His assets are much higher than mine with him having the house. Our divorce decree says that we have to split college 50/50 after all financial aid has been awarded. My other child went to a school with just a fafsa but this son is interested in primarily schools that use CSS. Will my ex having all that equity in the house affect the amount of aid drastically? If so, any advice for me without the assets? He can’t get an equity loan because his income won’t support the mortgage and equity loan.

Also, does the CSS profile require the divorces parents to work together on the financial side? Does it let each parent see the financial info of the other? It was not an amicable divorce at all unfortunately as hard as I tried. I’m worried he won’t give up his info if it means I will be able to see it.

What does our child do if my ex won’t give up the information to complete the CSS? Due to my living outside the school district ex is custodial parent but very clueless when it comes to these things.

Thanks for help.