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Showing posts from January, 2019

You Are Getting Divorced. How Will You Afford College?

Affording college is challenging enough for parents living under the same roof. Therefore understanding and maximizing rules for qualifying for the most comprehensive financial aid post- divorce is particularly crucial. State universities rely on information provided in the Free Application for Federal Student Aid (FAFSA). Private universities and colleges typically rely on guidelines which are not nearly as generous as FAFSA, thereby significantly increasing the family's expected financial contribution well above the FAFSA limits.

The Department of Education in creating the FAFSA has created a uniform financial formula to equalize the expected family contribution irrespective of a particular family's lifestyle or expense choices. In other words, when completing the FAFSA, the government does not care what particular or unique expenses and debts you took on to maintain your lifestyle. The two c…