Both of my parents are divorced and remarried…
My dad makes an average income but is financially responsible for 3 children, my stepmom makes an above average income and mentioned that she will not be contributing to my college tuition… They filed joint taxes
My mom has no income, substantial assets. My stepdad makes minimal income but has very significant assets, likely will not contribute though. They also filed joint taxes.
Because of this confusing scenario is there any chance I could get any aid…? I tried some calculators but none of them were built for my extremely confusing scenario
If you are filing FAFSA only, you’d file the income and assets of the parents you live with most of the time. The assets might be protected (retirement account, primary residence).
If it is CSS, you have to report all the income and assets but not all schools consider all the information. Make sure to have the W2s and 1099s so you can separate the bio parent’s income from the new spouse’s.
@2000dancer Yes, you might still get aid, but you will need to investigate thoroughly, and still apply widely since it really does vary. There are a few schools out there that only consider biologic parent income, which sounds like it would be the best scenario for you (if you are living with your mom/step-dad most of the time). Some of these calculators do indeed instruct you to deduct step-parent income, but we only saw a few of those. My D’s awards ranged from full pay to a $58K grant, depending on how they used step-parent income. Most FAFSA only schools will only use the income of the household you are living in.
If it is unclear from the college web site or net price calculator, ask the college directly how your situation is handled and how to use the net price calculator. Each college may have its own policy that differs from this email of other colleges.
Who do you live with? Your mom and husband, or your dad and wife?
For the FAFSA, you will list the custodial parent (that’s the one you live with more than 50% of the time for the 365 day’s prior to filing the FAFSA)…and that custodial parent’s spouse. This is required. You will use both of their incomes and assets on the FAFSA form.
You do not list the non-custodial parent on the FAFSA…BUT if your parent received child support for the tax year used for the FAFSA…that also will be required on the FAFSA.
For the Profile…your custodial parent and spouse will complete the Profile. If the school requires the non-custodial parent Profile, your non-custodial parent and spouse will complete the non-custodial parent form.
Now…having said all that…different colleges use the Profile and non-custodial parent info in different ways. They sometimes use new spouses info in different ways. Some schools count only the bio parents (both of them) income and assets. Some use everyone…all these parents and spouses incomes and assets.
Your parent tax filing status has no bearing on this at all. For the FAFSA, both your custodial parent and spouse will be required regardless of how they file taxes.
It also doesn’t matter who declares you as a dependent.
Your situation actually is not complicated, or unusual, There are a lot of students with divorced and remarried parents. Colleges handle these situations all the time.
What colleges are you interested in? Maybe that will help folks give you better information.
And this needs its own post. You have some financial issues in terms of paying for college from what I’m reading here.
On another thread, you mentioned applying ED. Considering your financial situation, I would strongly advise against applying ED anywhere. You want the option of comparing net costs…because really…someone has to pay the bills, and it sounds like none of your parents or stepparents plan to do so, despite having some resources to do so.
Is this still your list:
Except for Purchase…how will you pay for these other schools? I believe all require the Profile from both custodial parent and non-custodial parent…except Hampshire. But Hampshire is pricey and doesn’t guarantee to meet full need for all.
Most of the schools on your list will also look at the combined income from both households because your bio
parent(s) are not carrying all of the expenses alone
Since you know that 3 out of 4 of your parents are willing to pay, you probably need merit $$.
You will not get more money because your bio/stepparent does not want to pay.
I think 3 out of 4 won’t pay for college.
Dad has average income but three other kids.
Step mom has said she won’t pay.
Step dad has significant assets but has said he will not contibute.
That leaves mom…who has significant assets but no income.
@2000dancer will your mom pay out of her assets for you to attend college?
If that is her list, Barnard chose not to use step-parent income or assets for my D, using only biologic parent income. Further complicating things, she has a non-custodial profile waiver due to a restraining order. Barnard used only mom income, and gave her very generous aid. Smith granted the waiver, but used step-parent income, so she was full pay there. OP is going to definitely want to figure out what her family can pay, and apply widely to make sure she has some options.
Also it is going to depend on what these assets are. Retirement? Money in a savings account? A primary residence?
@divarose you had non-custodial parent waivers. I don’t see anything that would indicate this student would be eligible for a waiver.
And as you noted…even in your situation, who the colleges used to determine need based aid varied.
OP needs to check each college.