<p>My parent's are divorced, is it true that they don't look at what my dad has at all? I'm looking to save 50% of my paycheck everyweek, and if it's in my dad's name would that work?</p>
<p>It depends on the school and what they require for financial aid purposes.</p>
<p>If your school only requires the FAFSA, then they will only ask about the income and assets of your custodial parent (sounds like it is your mom). Schools that require the CSS profile or their own institutional aid form will look at both your parents regardless of their marital status (and your stepparents if applicable).</p>
<p>regarding the statement:</p>
<p>
[quote]
I'm looking to save 50% of my paycheck everyweek, and if it's in my dad's name would that work?
[/quote]
</p>
<p>You will still have to show w-2 with how much money you made so this really would not work.</p>
<p>Try not to enter college defrauding them, it wouldn't be a good start. Most private schools will look at both parents' income and assets. Many also include step parents.</p>
<p>I don't want to to this, it's my parents idea, but thanks, I'll let them know.</p>
<p>Sean,</p>
<p>Since this was, according to your last post, your parents idea, you may want to remind him or her (or both) that when you complete the FAFSA (and possible the CSS profile) you sign certifying, among other things, that "if you purposely give false or misleading information, you may be fined up to $20,000, sent to prison or both." Honestly, is that small amount of money you are earning worth the risk of you and/or your parent being fined and/or sent to prison?</p>
<p>Haha, well they just thought it was a loophole, I guess not though. Thanks, this is exactly what I wanted to hear. :)</p>
<p>Leavenworth is filled with folks who thought they were merely exploiting a loophole</p>
<p>However- for a FAFSA only school, you report the parent who provides more than 51% of your support. That parent does not have to be the parent who claims you on their taxes. You do not report the other parent. This is not a "loophole". It is what the FAFSA asks for, no more, no less.</p>