<p>My son is applying primarily to schools that consider both parent's income for financial aid purposes (i.e., require the PROFILE). I share custody of my son with my ex-wife and the divorce specifies a 50/50 split of parenting time. In practice, her parenting time is slightly greater than mine (1-2 weeks more per year). My income is over twice my ex's and I provide much more financial support (as is appropriate). She claims my son and his brother on her tax forms; I claim our 11 year old daughter (we are the parents of all three children).</p>
<p>My question is: am I the custodial parent for the purposes of the FASFA/PROFILE? In terms of the definition of "custodial parent" for the FASFA/PROFILE, I think my ex fits it more closely since she has slightly more parenting time. However, I'm concerned that filling the forms out this way give the appearance of "working the system" even if correct.</p>
<p>I estimate that in terms of financial aid received, that it will not matter, except for a couple of schools he applied to that only require the FASFA. Of course the outcome should not influence how the forms are filled out, it should be done truthfully and legally. This seems like a close call, however, with maybe more than one truthful and legal answer...but I'm not sure! I am fully committed to providing financial support for my son's education, regardless of how forms or filled out or what aid is received.</p>
<p>My son is an exceptional student and has applied to Harvard, Yale, Dartmouth, U of M, Michigan State, and Penn State.</p>
<p>Who should be the custodial parent on the FASFA/PROFILE?</p>
<p>For FAFSA
[quote]
If your parents are divorced (or separated - see below for more information), answer the questions about the parent you lived with more during the 12 months preceding the date you complete the FAFSA. If you did not live with one parent more than the other, give answers about the parent who provided more financial support during the 12 months preceding the date you complete the FAFSA, or during the most recent year that you actually received support from a parent. If this parent has remarried as of the date you fill out the FAFSA, answer the questions on the remaining sections of the FAFSA about that parent and the person he or she married (your stepparent).
<p>Remember that even if your wife files as the custodial parent, any child support paid by you will is treated as income on the FAFSA.</p>
<p>Harvard, Yale, Dartmouth and U of M will all require the profile and as swimcatsmom stated they will look at the income and assets of both parents and their respective spouses. </p>
<p>I would suggest running your numbers through the Dartmouth FA calculator which in our case was pretty accurate.</p>
<p>Time spent is the consideration; if he really spent more time with Mom, there's your answer.</p>
<p>But another wrinkle - for hs school records, what's his address? Mom's or yours? Who's the school's primary contact? If it's a public school, and you live in different towns, I'd venture to say that the custodial parent is the one that lives in the same town as the hs. If you put yourself as custodial, but the school records show son living with mom, or vice versa, it could raise questions.</p>
<p>It's quite common for a mother's income after divorce to be substantially less than the household's predivorce income, as well as being quite common for the noncustodial father's income to be much higher than the mother's. I don't think anyone will consider that you're "working the system". You're being honest, and your situation is one that financial aid offices must see all the time.</p>
<p>Prospective U-M students
UofM Application Instructions Fall/Winter 2008-2009</p>
<p>
[quote]
Entering freshmen must complete two applications to apply for aid:</p>
<ol>
<li>The College Scholarship Service (CSS) PROFILE, and </li>
<li>The Free Application for Federal Student Aid (FAFSA)</li>
</ol>
<p>Information on these forms determines your expected family contribution and your eligibility for aid programs. Be sure to submit these forms by the deadline dates listed below to be considered for all aid programs (use estimated tax information if necessary). Although you may apply later, you might not be considered for all aid programs. We must receive your FAFSA and PROFILE information by the April 30 priority filing date to consider you for all aid programs. Do not wait to be admitted before applying for aid!</p>