New at this…still have some time but looking at Fafsa. I was recently remarried. It asked for 2015 tax returns and I believe I include my new husbands 2015 info too? Until November, I was a single mom with 3 children. No contact/support etc from ex husband. And I made $40k.
Seems kind of sad that suddenly my new husband & brand new stepdad now is “responsible” for 3 kids college funds. His income probably triples mine but still…
That’s a good question, if a current husband’s 2015 info needs to be included if you weren’t married in 2015. @kelsmom might know.
But going forward, his income will definitely be included because it affects resources available for college - you no longer pay your mortgage, rent, whatever bills alone. A bright spot is that if his kids are in college at the same time as yours, that will also count, in the good way.
Your ex, if truly out of the picture - no contact, no support, or a few other circumstances, his info/income may be waivable.
Your FAFSA status is as if the day you filed it. So…if you are married, then yes, you would include your new husband’s income for the year the fafsa is using.
The reverse would be true. If you became widowed, for example, you would NOT include your spouses income.
The fafsa calculates and expected FAMILY contribution…and your New husband is part of your family now. Presumably, he is also helping with regular living expenses for the family which might free up some of your income to help pay for college.
Your kiddos can also look for colleges where they might garner merit aid, which is not income dependent.
It is a good lesson in being aware of the issues of divorce and remarriage. Of course, your new DH doesn't have to pay a dime for your kid's college. Factor in the chance of your ex also having an impact on FA as a consideration. If your family isn't responsible for paying for your kid's school, who IS?
So it “seems kind of sad” that the OP went from being a single mom making $40,000 to a married mom with a household income of $160,000? And now the OP will be better able to use some of her $40,00O income to help her child attend college. Sounds like excellent news!
Meaning…not for me, for him, though he adores them and would do anything for them he could. Also meaning…it’s like a marriage penalty. I NOW realize that so many people just don’t get married to prevent it immediately crushing any chances of aid. So yes, that, is kind of sad.
Surely your new hubby is paying for many household expenses, correct? You’re not the only one paying for rent, utilities and food, correct?
That is why it would be wrong to only use your income. If only your income were used, it would look like only you were paying for all of those costs and therefore you wouldn’t be able to pay much/anything towards college.
Now that you have a spouse whose income is high and paying for many of your expenses, can’t you contribute more towards college?
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New at this…still have some time but looking at Fafsa. I was recently remarried. It asked for 2015 tax returns and I believe I include my new husbands 2015 info too? Un
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? Do you still have time?
If you’re looking at FAFSA that asks for 2015 info, then that sounds like you have a child starting college this fall.
Did you submit the 2017-2018 fafsa BEFORE you got married, by any chance?
Yes, technically you could have submitted FAFSA in October before you got married in November.
But anyway, if you just filed it now then you would include your income from 2015 and his income from 2015.
I assume you would add both AGI together since you didn’t file together in 2015, and then list parent 1 and 2 income from working. And add tax paid from both together.
Then all assets of yours and his.
If there is another house owned apart from your primary residence, that is an asset too.
The ex might come into play with schools that use CSS profile, and require non custodial parent info. You might have to apply for a waiver there if you had no contact.
The college might need copies of your 2015 tax returns and or W2s for income verification since the DRT tool in FAFSA was disabled.
Also if you were married as of Dec 31,2016, did you file a joint return with your new husband for 2016?
Depending on your combined MAGI, you might qualify for an education credit AOTC. But you have to file married jointly.
I know the cost of college may have been unexpected, but how they determine who pays is kind of logical if you think about it. You’re not going to qualify for free lunch or food stamps either because those things are determined by family income. Our AGI is ~$59k. I’d sooner earn ~$160k for however many more years you work than earn $40k and qualify for aid. At most schools, the aid probably wouldn’t be enough to make it affordable anyway.