<p>I've gone to a number of college sites to try to get an idea about the expected parental contribution for my divorced parents, but the examples they give are always based on a married couple or single parent.</p>
<p>How do they calculate financial aid for divorced parents? </p>
<p>For example, let's say each parent makes 80k and neither has any equity in a home. Do they simply combine the incomes and make the award based on a family income of 160k? Or do they recognize, and take into account, that each parent has a separate home to maintain?</p>
<p>The federal methodology (FAFSA) considers only the income and assets of the custodial parent (single parent).</p>
<p>Many schools, however, consider both the custodial and non-custodial income and assets for distribution of their own funds. If you go to some of the financial aid calculator and use the Institutional Methodology, you may be able to get a better view of what you might receive. And yes, they do consider that divorced parents have to maintain two households, but by how much varies from school to school.</p>
<p>Thanks Cheva. I think most of the schools I’m applying to require the non-custodial parent’s financial info. Can you recommend a calculator and site that would give me an idea what to expect?</p>
<p>Please, someone, correct me if I’m wrong, but I thought that in the event that the custodial parent remarries then three incomes are considered: custodial parent, custodial parent’s new spouse and non-custodial parent.</p>
<p>(Not sure if this is relevant to the question asked by OP, but I’m sure there are others who need to know this information.)</p>
<p>four incomes are considered if NCP info is needed…Both natural parents and both step-parents (if there are step-parents).</p>
<p>cubsfan…From what I understand, there really isn’t a good way to figure out the family contribution from divorced parents. Also, each set isn’t given a “set amount”. Just one total is given (which I think is unfair…btw)</p>
<p>Are your parents remarried? Would you say that both sets of families have similar TOTAL incomes? Will all parents/step-parents fill out the forms and submit paperwork? Are both families willing to pay the family contribution?</p>
<p>And, I think the answer is yes, there is an assumption that 2 households are being supported.</p>
<p>I think there are as many ways schools request financials as there are combinations of bio & step parents. CSS profile schools come in two main flavors:
Require Custodial CSS only (this would include CP and any new spouse)
Require Custodial AND NON-Custodial Profiles (which require 2 bios and any new spouses - up to 4 total as M2K stated).
Additionally (sub-flavor) some of the schools that require the Custodial only (CSS Profile) have additional forms of their own that ask about the non-custodial.
Lastly there is always an exception to the rule. Princeton does NOT use the profile form but rather their own forms and ask for both bio parents UNLESS the custodial bio is remarried then they ask for custodial bio & spouse only.
"If the parent you live with has remarried, that parent and stepparent complete the PFAA and FAFSA. No information is required from the non- custodial parent.
If the parent you live with has not remarried, then that parent completes the PFAA and FAFSA and the non-custodial parent completes Princetons Non- custodial Parents Form.</p>
<p>SO - it can be very unique to the school to which you are applying. Check their website carefully and this is even before you consider the varieties in IDOC usage!</p>