<p>If I marry a woman who has 2 children in college and 1 entering college in 2 years will my assets be counted in their financial aid assessment? Their father (her X) has his income counted in the process…would mine be added?</p>
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<p>On the FAFSA…income and assets of the custodial parent (is that the mom…your future wife?) would be reported as well as the income and assets of her spouse (you?). The FAFSA computes an expected FAMILY contribution and once you are married to the mom (if she is the custodial parent), you are a member of the family. The FAFSA does NOT require the reporting of income/assets from the non-custodial parent.</p>
<p>The custodial parent is usually the parent with whom the kids reside better than 50% of the time. </p>
<p>For the Profile…income and assets from the custodial parent and spouse AND income and assets from the non custodial parent and spouse are all reported.</p>