<p>So, my parents are divorced and have a strange arrangement. I live with my mother who earns about $16,000 a year. My father earns more than $300,000 a year...a big income gap I know. My mom is not going to contribute to my college education and my dad doesn't want to pay for more than $20,000/year. Both parents are remarried. My stepfather isn't willing to contribute either and I would estimate that his salary is about $20,000 and my stepmother doesn't work. Would I be likely to recieve a large package because of my mom's income or would my dad's income play too large of a role? I am hoping that my mom's low income will offset my father's higher salary.</p>
<p>If you apply for FAFSA-only schools, your custodial parent (your mom) and her spouse (your step-father) will report their income and assets on FAFSA. If their incomes total $36,000/year, it’s possible that you will qualify for the simplified needs test, in which case your EFC will be very low. Your father’s income won’t be considered.</p>
<p>If you apply for Profile schools, most do not require the non-custodial parent’s financial information. About a third do, so if you apply for a Profile school in that category then your father and your step-mother’s income and assets will be required. In this case you are unlikely to receive any financial aid.</p>
<p>Here are the Profile schools (be sure to confirm whether non-custodial forms are required on each school’s website):</p>
<p><a href=“https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv[/url]”>https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv</a></p>
<p>It all depends on where you will be applying.</p>
<p>Frankly, you’re kind of stuck. The schools that give the best aid usually require your dad’s income and because of his high income, you won’t get ANY aid. Your mom’s low income doesn’t “balance” out your dad’s high income. That would be silly. Your dad has a very high income and he’ll be expected to pay all costs at schools that use his income.</p>
<p>The schools that DON’T use your dad’s income, don’t usually give much aid, so you could be short of funds - even with your dad’s $20k contribution.</p>
<p>All schools WILL consider your step-dad’s income regardless! But, it doesn’t sound like their combined income is very high.</p>
<p>Where are you applying?</p>
<p>To protect yourself from MAJOR disappointment, you need to also apply to some schools that will give you big merit for your stats…those will be your financial safety schools.</p>
<p>Right now I’m beig recruited by a Bucknell University which unfourtunately doesn’t award athletic scholarships. The tuition is $52,000/year. They’re having me do a pre-read financial aid package where both the custodial ad noncustodial parent’s info is required. I looked o their website and they require a supplemental noncustodial parent financial form to be completed in conjunction with a CSS Profile. Thank you for the help!</p>
<p>Bucknell’s a great school, but without the $ to pay for it, you’d be better off being recruited by D1 schools with athletic scholarships, schools that use FAFSA only, and/or schools with merit aid.</p>