<p>lets say my dad makes a little over 60k a year and my mom is a stay home mom. if they get divorced, how will it affect my financial aid? I'm already over 18 so would i still count as a dependent? if I do count as a dependent, would it make a difference if I'm dependent under my mom or under my dad? I also have a little brother if that makes any difference.</p>
<p>This is a complicated topic, so these answers are very general. You would still be dependent for the purpose of financial aid. The FAFSA is only going to include income from the parent you live with the most, so it’s probably advantageous to live with your Mom even if/when she goes back to work. However, if your Mom gets child support (for you and/or your brother) or spousal support that is considered part of her income, too. Your little brother is part of the household size (if he lives with the same parent as you) on FAFSA and, if he’s old enough to eventually be in college at the same time, will further reduce your EFC.</p>
<p>Many of the more prestigious and expensive schools also collect financial data from the non-custodial parent, and it’s not so easy to predict or learn how they will use that data. </p>
<p>Are you already enrolled or matriculated at a college, and you already have financial aid? If so the best thing is probably to ask their financial aid office. Other than that, I would suggest reading the FAFSA instructions line-by-line to see how everything is handled, including any special handling during the year of a divorce.</p>
<p>Sorry to hear this, and I hope things work out for you.</p>
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<p>You are not going to be an independent student any time soon. Regarding the FAFSA, you will fill it out based on the income and assets of the custodial parent. If it is your mom, any monies for child support/alimony must be included in the FAFSA.</p>
<p>Should you apply to a school that uses the profile/non-custodial profile or request the income/assets of both of your parents you must supply that information.</p>
<p>Wow. What a mountain to climb. Please know that the senior year in high school is very challenging, in part because: a) you don’t know where you will go to college and b) you don’t really know how much any particular college will cost. </p>
<p>College costs are a lot like buying a car from a used car dealer. There’s a sticker price and there’s the price for you (which, hopefully, is a lot less than the sticker price). </p>
<p>I’d suggest you talk to your Dad and make sure he is clear on these points:</p>
<p>1) Filling out the FAFSA in January is the way that you get in line with a college to say “we’d like some money, please”. I write “January” because getting your FAFSA filed can’t be done before Jan 1 and it is best to do it as soon as possible. Tell him NOT to wait until taxes are done in mid April. He can estimate and make corrections later. </p>
<p>2) He should know that you will be counted as a dependent until age 24. It is a stupid rule but that is the way it is. </p>
<p>3) He should also know that the high school senior year FAFSA is the hardest to do – it is the first time your family has done it and you will learn a great deal by doing it. Subsequent years are much easier. </p>
<p>4) He should also know that you deeply appreciate his attention to this. Tell him so – he has a lot on his plate and your words of appreciation may help these forms get done.</p>
<p>I am sorry to hear that your family is in a rough zone. It is brutally hard to be a college bound kid right now – and to do so while there is anger and hurt and worry between your parents is just awful. Ask your parents for counseling help. Whether or not they stay together or split, a good counselor can save everyone time, money, and misery. A good counselor will help you and your sibling deal with your worries and internal conflicts, no matter what plays out. </p>
<p>You might look and see if there is a peace negotiation clinic in your county. No matter what, resolution skills can help you in your life. There are books and websites on negotiation skills too. I’m having my son read “Critical Conversations” which is about how to have respectful, powerful conversations in the midst of business crisis. There is material there that also applies to family life. Please know we are rooting for you.</p>