<p>My parents are divorced, and I was wondering how that plays into financial aid. I live with my mother, so they’ll see her income, and, I assume, the money my father pays in child support. But, how much of my father’s income will they figure into my family contribution? Is there a standard percentage? I’m asking because Columbia has a policy through which they replace all loans with grant if your combined family income is under $50,000.</p>
<p>Columbia uses the Profile in addition to the FAFSA in determining FA. Profile asks for income data for both (biological) parents. If divorced, you also have to provide income amounts for a stepmother and/or stepfather if either/both of your parents are remarried.</p>
<p>Columbia requires the CSS Profile, and requires the CSS Non-Custodial Profile as well. So they will see all of your father’s income. Your father’s income will be added to your mother’s to come up with an income figure (which, from the tenor of your question, will be more than $50,000). They will also consider any assets that either of your parents hold, inclulding equity in one or both homes. Finally, they will calculate how much of that income/asset combination should be available to pay for college (and they will consider that there are two households). </p>
<p>Run a few financial aid calculators, looking at the Institutional Method, for more details. [FinAid</a>! Financial Aid, College Scholarships and Student Loans](<a href=“http://www.finaid.org%5DFinAid”>http://www.finaid.org). (The Federal method considers only the custodial parent’s income and assets).</p>