Formulas for Divorced Parents

Keep in mind a lot of the child support agreements depending on where you live end at age 18. Unless your parents have a settlement agreement that refers to how college costs will be paid it becomes difficult for you. A non custodial parent can say I have no obligation to pay for your college education. The parent that you live with could do the same but more than likely they will try to look out for you since day in and out they are there for you and supporting you. Your safest best would be to apply to FAFSA only schools where your custodial parents income is only taken into consideration because even if the noncustodial parent says they will pay there is no contract for that and when bill time comes and they don’t contribute you are screwed. The most risk adverse thing to do would be apply to fafsa only schools where your custodial parents income is considered only. That will limit your choices but then you won’t be later forced to transfer out of a school you can no longer afford or take on a lot of debt for undergrad. I know that doesn’t seem fair but unfortunately this happens sometimes.