@vrmeenrajan have you discussed how college will be paid for with your parents? If not, you need to do so. You need to know how much each is willing to pay annually for your college education.
The info about needing to submit your dad’s financials is VERY clear on the Brown website. Very clear. They will be required.
Brown, as noted by others above, requires the CSS Profile in addition to the FAFSA.
- Your FAFSA will include only the financials from your custodial parent. If child or spousal support is received, that is included as well. The FAFSA will determine your eligibility for federally funded money at a school like Brown. Really, with an income of $65000 a year, it’s unlikely you will qualify for any federally funded grant money unless you have other siblings in college at the same time as you.
- For Brown, your custodial parent (from what you have written, this would be your mom because you reside with her more than 50% of the time) would complete the Profile...again including spousal or child support received.
Your non-custodial parent (your dad) would then complete the non-custodial parent profile which will include his financials as well as his spouse’s. There is no choice about this…both must be included if they are married the day your Profile is filed. If your dad’s spouse wasn’t married to him in the tax year for your financial aid forms, they will have to use her tax forms to get that data from that tax year.
Each college website has a financial aid section with clear info about what must be considered.
The suggestion to try the net price calculator is sort of OK. But it’s only going to give you a very very gross estimate of your net costs for Brown. These calculators are set up for families with married parents…not divorced (and remarried) ones.
Since your family lives in Gainesville, I’m hoping you have Bright Futures and some FL publics in your application list.
Your total income including just mom and dad is $275,000 a year. That doesn’t include any assets Brown might count in the mix, or the income of your dad’s wife.
Also, do these income numbers include contributions made to tax deferred retirement accounts for the tax year for your forms? If not, add these numbers back in as income…because the colleges will.
Also, if either parent is self employed, that creates a different set of questions.