<p>Yes, as others have said, if you are married, your wife’s financials will be taken into consideration in defining need for your kids. If you are the custodial parent, FAFSA will calculate the EFC based on your financials and your wife’s. Whether you are the custodial parent or not, most PROFILE colleges will use both parent’s and both step parents financials. The schools that tend to be the most generous in aid, do tend to use all of the parents’ and steps’ financials. So, yes, a separations could make a difference in what you get.</p>
<p>However, what kind of aid are you hoping to get? Are your son’s going to schools that use PROFILE? What kind of aid are they getting? Sometimes , it makes little difference. When my friend remarried, the only effect it had on her children’s financial aid was the loss of subsidy on the Stafford loans and one $2500 fin aid grant that her older daughter had received. Hardly worth a divorce. If your daughter is looking at expensive schools that tend to meet close to full need via grants, it can make a big difference or if your kids are PELL eligible on your income but not with your wife, it can have an effect, but many times, it wouldn’t make much difference at all. If the aid packages are loan heavy, you are still eligible for PLUS whether or not you have need. In my situation, getting a divorce would be unlikely to mean substantial grant money, for instance. So look at the specific situation before going through all of that trouble.</p>
<p>Also, I am not sure of the legality of getting a divorce in order to get federal funds or financial aid, so that is not something I would be bandying about. Intent can play a big role in tax evasion tactics, I have seen.</p>