<p>Can someone direct me to a thread that might explain to a clueless friend of mine the details of how financial aid works in divorced and remarried families.
A good friend of mine has been separated from her husband for 7 yrs. They have never divorced or filled for a legal separation. Her husband has basically been paying most of the bills. She does not work and has absolutely no clue as to any details of their finances. Over the years he has not been the most trustworthy in paying their bills on time. Until this past year he has made a large amount of money. She has been in denial about their finances until this past year as long as she did not have to change her lifestyle. Plus the H would get agitated when she brought up the subject of divorce. She recently found out they owe a large sum to the IRS.
They have 1 already in college. 2 more to begin in the fall. They have been paying full fare for the oldest. My friend is now in a panic that her husband is not going to have the money to pay for 3 in college or even to continue to pay for child 1.
She is finally seeing an attorney about getting a divorce.
Another friend told her that if she had been divorced she would be better able to qualify for some aid with 3 in college.And that she might not qualify this year but if she divorces she might get aid for the next 3 yrs after the divorce. I think this information might not be correct from what I have read on CC. Do most colleges require information from both parents. The kids live with her.
I love my friend but this is an issue (her getting divorced or holding her husband accountable) that we basically agree to not discuss.</p>
<p>Post in the financial aid forum. </p>
<p>If the kids have lived mostly with her then for schools that only require FAFSA she will only have to report her income and assets if she is legally separated, though money received as child support is reportable.
If the kids are going to schools that require profile then the non custodial parent will also have to provide information.</p>
<p>With 3 in school at the same time the EFC based on her financial information will be divided equally between the 3 of them.</p>