Financial aid help: Divorced parents.

happymomof1
Sat, 03 Aug 2013 20:27:16 +0000

You need to run the Net Price Calculators for the institutions on your list, and you need to ASK BOTH PARENTS AND THEIR SPOUSES just exactly how much money they are indeed ready, willing, and able to pay for your education each year, the number of years that they will pay that amount, and under what circumstances. Some parents won’t pay anything at all. Some will pay for only four years, but not one single extra summer session, semester, etc. Some will only pay for certain majors. You need to know what your parents can commit to.

If after running the Net Price Calculators, you and your parents determine that it is best for you to use your father as the custodial parent, then spend one more day in his home than in your mom’s home. That really truly is all it takes.

If you spend the same amount of time with both parents (the situation you currently are in), then the parent who contributes the most toward your upkeep is the custodial parent for financial aid purposes. If your dad is putting the child support into an account for your use, then it is entirely possible that he is the one who is shelling out the most for you right now, and is indeed your custodial parent for financial aid purposes.