<p>My S. was accepted into an expensive(well to me anyway) private school. I submitted new CSS forms because the offered him no Fin. Aid whatsoever, just a small scholarship. The form shows an area for current fair market value or all real estate, but shows at bottom not to include the home you live it, unless it is multifamily(which mine is not). Here is the question: I'm separated from my husband and we EACH own a piece of property, actually each property is in both of our names. So do I put 0 in the fair market value, as each is a primary residence? There are substantional mortgages on both properties, which is why we resubmitted the CSS. We each pay our own mortgage. Our incomes combined are over 100k, but realize this is supporting 2 households(long story). There is no rental or vacation property involved, so is each dwelling considered a primary residence, in which case I would put 0 down as the current market value. And of course the fair mortgage value would be tremendous. Any input would be appreciated. I plan on calling the FIN AID office Monday as they are already closed.</p>
<p>Hmm...I thought that for the FAFSA, the parent info is treated as it is for divorced parents...only the custodial parent reports (am I wrong about this??). </p>
<p>I am not sure about the Profile. How do they treat separated parents? Is it the same as for divorced parents. Are you separated as in getting ready to divorce...or are you separated because of jobs being in two places? </p>
<p>So...perhaps someone knows...if Profile treats separated (as in getting a divorce kind of separation) the same as already divorced...each parent fills out their own form. The custodial parent fills out the custodial parent info, and the non-custodial parent fills out the non-custodial parent form.</p>
<p>If Profile requires separated parents to do the form as though they are married (one form), I have no idea what to tell you.</p>
<p>We are separated, not divorced, nor planning a divorce. The fact is that we maintain 2 separate households and have for over 3 years, but still fill jointly. Each live is a separate house, primary residences for both. Taxes are filed jointly. Jobs are in 2 places. Therefore 2 places, 2 hefty mortgages.</p>
<p>Im bumping this, in case anyone has any ideas on this one. Main key, 2 primary residences.</p>
<p>Not sure. From the online FAFSA guidance:</p>
<p>A couple doesn't have to be legally separated in order to be considered separated for purposes of the FAFSA. The couple may consider themselves informally separated when one of the partners has permanently left the household. If the partners live together, they can't be considered informally separated.</p>
<p>OK, so on question PA-180, PA-185, and PA-195 you put all zeros. </p>
<p>Does this mean that on PA-130 - Current market value of home you added the values of both homes and on PA-135 you put total of both mortgages?? </p>
<p>Wow, let us know what the school says.</p>
<p>You should call the school for this info since your case is unusual. Generally, though, for Profile schools, you have to report the current market value of your house so I'm surprised this form is telling you not to. Profile wants to see all your assets (including cars, etc). This new form is used to verify the info that you already provided. You say you're providing NEW CSS forms - that implies you already filled out the Profile. Did you already report your house? His house? Verification forms often ask even more detailed info than the original Profile. We had to fill out similar forms for certain schools.</p>
<p>As for separated and not divorced, it's probably up to the school as to whether it is willing to treat you as if you are divorced. Schools using Profile can do whatever they want. Hopefully they do. In that case, you provide info as the main (custodial) parent and your husband (like an ex husband) would fill out similar info as the non-custodial parent.</p>
<p>I suspect the fact that you still file taxes jointly and that the properties are in joint names might cause you some problems with the financial aid process. I agree you will have to talk to the school - it is an unusual situation.</p>
<p>jerzgrlmom</p>
<p>The OP is not refering to the question about current home value, but the question that asks about the current value of "additional" real estate (and that question states not to include residence because she should have already included that value in the earlier question) That's why I asked if she put the value of both homes under current home value. For schools that include home equity as assets it probably won't make a difference if she puts both as residence or splits them and puts one as residence and one as "additional" real estate. But, if the school "caps" the value of the primary residence at 2 or 3 times her income it may make a difference. I'm curious as to what the school will say to do.</p>
<p>I see. I'm curious also. It will help to show prove that they live separately, working and paying bills from the different locations. Otherwise, couples owning two homes could easily say one parent lives in one and the other one lives in the "vacation" home or the "rental" home. That isn't what's happening here so hopefully the school will look at this situation differently.</p>