My parents are divorced, my mother makes <35,000 and my father makes >200,000 … will it make a difference if my mom is the custodial parent in the fa award ill receive?
Where do you live most…with mom or dad?
If mom…
For schools that require only the fafsa your mom’s financials plus any child and spousal support will be put on the FAFSA. Your dad won’t be used…at all.
BUT if you apply to schools that require the non-custodial parent information…either via the Profile or a school form, you will need to have your dad’s financials as well.
Depends.
What school?
upenn
penn state
bu
bc
fordham
wake forest
chapel hill (oos, ill probably get nothing anyway)
nyu
columbia
If you live with your mom more than you live with your dad, and if you apply to colleges and universities that use only the FAFSA and places that use the CSS Profile but don’t require information about the parent that you don’t live with, then your aid will be based solely on your mom’s financial information. If you live with your dad more than with your mom and apply to those kinds of institutions, then only your dad’s information will matter. If you apply to places that require both parents’ financial information, then both sets of information will be considered in your financial aid package.
Truth be told, many institutions don’t have a lot of money to hand out, and even if you would get the maximum federal aid, that only comes to about $11,000 each year (half of that in loans). So sit down with each of your parents and find out what each of them is comfortable contributing toward your costs each year. For example, if your dad is currently paying child support for you, would he be able to put that amount of money toward your college costs?
The sooner you know about the money issues, the better.
Nearly all, if not all, of those schools will use BOTH parents incomes to figure out aid. Most of those schools use CSS profile and require the info of the non-custodial parent as well.
Penn State only uses FAFSA, but it gives lousy aid. Are you instate for PSU?
Does your dad pay your mom spousal support? child support?
how much will your dad pay towards your college costs?
You need to protect yourself and apply to some schools where you will get HUGE merit for your stats as back up schools.
@mom2collegekids I didn’t include suny school which I would pay in state tuition for because those are affordable to my family without aid, my dad pays child support and will be taking out loans for me (and will begin paying them off monthly while im still in college) but still it wouldn’t be possible to pay more than 20-25k
All of the colleges on your list require the non-custodial parent information…except Penn State.
So…your custodial parent will need to submit the FAFSA, and the Profile. Your non-custodial parent will need to submit the non-custodial parent Profile.
In other words…the incomes of both parents will be considered when your financial,aid award is calculated.
FYI…UNC-CH meets full need for all accepted students…but with $230,000 of parent income, I don’t think you would be in the running for need based aid there…or possibly anywhere else on your list.
@thumper1 would it help that there are four kids in my family? or does that really not make a difference
your dad’s income is just too high.
You and your dad should NOT depend on loans, particularly if there are younger kids to also put thru college.
Ask your dad how much he can actually PAY each year towards college and work with THAT figure.
What are your stats?
What is your intended major and career goal?
<<<will be taking out loans for me (and will begin paying them off monthly while im still in college)<<<
this is a bad idea. There are 3 younger kids. Your dad would end up with a ridiculous amount of debt …with each child piling on more debt.
You need to identify MORE schools besides just SUNYs that will be affordable. It sounds like the SUNY is just a “don’t want to go to back up” school. So, you should have MORE back up schools.
At some point, your dad is going to “do the math” and realize that he can’t borrow thousands and thousands each year for 4 kids to go to college. He is facing 16 college years of college for 4 kids. If he were to borrow EACH year for EACH kid, look how much debt that will be.
@mom2collegekids my scores are high 4.0 and high psat, as of right now my intended major is chem with a goal to go to med school which is why I dont want to pay too much for undergrad. realistically my parents can probably scrape together about 20k
@mom2collegekids will the idea is that the loans will be in my name and when I start working he’ll stop paying
<<<
Rising Junior
PSAT: 200 no prep
(my tutor said I can probably get above a 2200)
GPA: 95.1 / 97.1
Rank: top 5
ECs (not going into detail):
Cheerleading (captain)
Softball
Tutoring
Elementary School Volunteer
Student Council
School Service Club
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Well, do the best you can on the PSAT.
It would be crazy to borrow much or anything for undergrad if you truly want to go to med school. Are you sure that you want to become a doctor? Is your dad a physician?
If you select a school that will give you a full tuition scholarship, then your parents $15k per year can pay for room, board, books, fees, etc. That would be an affordable option w/o any undergrad debt.
@mom2collegekids no he’s not a doctor he works for nyc and I can’t be positive but right now that’s what i want
Look at the sticky thread about scholarship lists. There is a list of automatic full rides, a list of competitive full rides, and a list of National Merit scholarships. With a 4.0 and high test scores, you should be able to go to college nearly free.
@mom2collegekids my dream school is upenn, so if I decide to go to a more affordable school that’s out because it almost 70k and they dont give merit
I’m not too throw off by suny stony brook because they have a great pre med program and rank plus their tuition is only 6k a year
Well…based on the FAFSA (which only your mom needs to complete…assuming that is who you reside with), you would likely qualify for at least a portion of the Pell Grant.
Does your mom’s $30,000 a year income include child support for four kids? And spousal support?
If you truly want to be premed, then going to a reach school can defeat your goal. There is extensive weeding in the premed prereqs. If you’re in a school where everyone is super-strong then how likely will you be the one getting all the A’s?
Your mom’s income on FAFSA will also include any child support and spousal support she gets. Is $30k her earnings from a job?
Depending on how much your dad pays for various support, her “income” may be higher than $30k.