I am divorced and split custody of high school junior and younger sibling evenly (time and expenses) with their dad. I am not remarried (their dad is) and make less money/have less assets than their dad.
I want to do what is necessary to have “custody” of both H.S. junior and younger sibling for CSS profile purposes, believing more aid will be granted.
How do I establish custody for each child? (Is it time spent in home? Expenses paid?) And what is the time period of measurement? (2017? 12 months prior to filing?)
The kids need to reside with YOU greater than 50% of the time as of the filing date of their FAFSA and their Profile forms. If they do…then YOU are the custodial parent.
If not…the other parent is the custodial parent.
If they truly reside 50% of the time with each of you…then the requirement is for the parent who provides the most support be listed as the custodial parent, and usually this is the parent with the higher income.
This has NOTHING to do with your divorce decree or tax filing status. It is the %age of time the child lives with you…and that has to be greater than 50% as of the date of the FAFSA and Profile filings.
I’m curious, however, why this matters to you for the Profile. Will you be looking for colleges that do NOT require the non-custodial parent Profile? If so, just understand there aren’t very many that guarantee to meet full need…that don’t require the non-custodial parent information. So your former spouse, and wife might just have to provide information anyway.
For FAFSA purposes, only the custodial parent provides info…but remember to include any spousal and child support you receive on the form.
For FAFSA purposes, will YOUR 2017 income (including child and spousal support)be low enough that your child would qualify for the Pell Grant?
I think you are assuming that your lower income would net your kid more need based aid…but at MOST schools that meet full need for all…both the Profile and non-custodial parent Profile are required.
And lastly…the vast majority of colleges do not guarantee to meet full need…at all…so even your lower income might not net your kids more need based financial aid.
How much do you think you can pay per year?
Any chance your kids are strong enough students that they could apply where merit aid is guaranteed…and doesn’t take family finances into consideration at all?
Thank you for taking the time to write such a comprehensive response!
My income is too high for a Pell grant.
My child has a very strong academic record, but with that will apply to highly selective and selective private schools. I don’t know if she’ll get merit aid. I didn’t know there were schools that guarantee merit aid. It probably depends on the school. We will certainly apply and take that into account when making the school list.
So what I understand is-
FAFSA - both kids must spend more than 50% of time with me in the one year period immediately before filing the form, for example,10/2017-10/2018. Then they are both in my custody for FAFSA purposes and I fill out the form with my income.
Profile - Same as above, but it really doesn’t matter because non-custodial parent has to report income in almost all cases.
As long as the kid for whom the FAFSA is being completed spends more than 50% of the time with you, you are considered the custodial parent. This will not change even if the other parent is considered the custodial parent for a sibling.
To be custodial just make sure you have them one day more per year then your former spouse. I’m in a similar situation… divorced, their dad is remarried, I have lower income.
There are actually some schools that only require the CSS profile from the custodial student. They are definitely the minority, but my daughter applied to one. If you google CSS Profile Participating schools you will find the the College Board chart that has a column “CSS profile Non-Custodial Parent”. Most say yes, but you will find ones that say no.
So, for FAFSA only schools, or CSS for custodial parent only schools, being the custodial lower income parent would help.
You need to also check the schools to which your child is applying. Some highly selective schools don’t offer merit aid…at all…to anyone.
In my opinion…you need to speak with your former spouse…and the two of you need to set a budget for how much you will be willing and able to contribute to your kids’ college educations each year. That is the budget they need to use when applying to colleges.
Sure, they can apply to some financial reaches…but they need to understand your money limits…and understand they will need to walk away from acceptances they are NOT affordable.
So…before you start looking at colleges with your HS junior…first have the money talk with the other parent…and then have it with your kid.
You will need to cast a broad net…that includes sure things in terms of admission and affordability.
It is really the younger child is a member of your household when you file FAFSA/CSS for the older one. It is fine if the father takes one as a tax deduction, but you want to be sure you are considered a family of 3, not 2. It is really only a slight advantage on the FAFSA and you already said you will not qualify for Pell grants, so probably won’t matter much.
Do not skip the FAFSA only/high merit schools. It really is where you are likely to find more money than to try to figure out financial aid based on two households, one remarried. That’s just a lot of paperwork and hoping.
Yes, time makes child a member of your household, not tax dependent status.
FAFSA formula gives a slight boost for household size, but it usually doesn’t make a big difference unless both are in college at the same time. Income and assets play a much bigger role in the FAFSA calc than number in household.
There are no FAFSA police. If you claim they live with you one day per year more than with their father, your word would be good (unless the father also claimed they lived with him the most, but why would he?). Almost everything is self reported. Schools can ask for information on others in school, or for a tax return verification, but they do not ask for a calendar verification of nights spent with you.