New Divorce and Tax Returns

Parents Forum
1

<p>Hello,</p>

<p>I'm a freshman in college, looking to transfer with 95% confidence. My parents have been in the process of getting divorced for the past few months now, and will hopefully finish by the new year. </p>

<p>My mother and sister moved out, and both my parents now have different permanent residences. </p>

<p>What I was wondering about, is since the divorce probably won't happen until the end of this year, will my parents still file as married for 2007 tax returns? And if so, how would custodial parent work if I only receive support and live with one of them? </p>

<p>Neither of my parents make large sums of money--my dad owns his own business which isn't that successful, and my mom was on disability for a large part of 2007, putting her under 40k.</p>

<p>Will I be able to receive aid based on the parent who supports me? Will colleges acknowledge that even if the tax returns state married, that the impending divorce will make the financial situation different in the upcoming school year? Any comments on what to do concerning my financial status in general would be appreciated.</p>

2

<p>I was in the same boat (as a parent, though, not as a student) about four years ago. I was separated, but the divorce would not be final until five months after all the financial aid paperwork was due. I called the college my daughter planned to attend and was told since I was the custodial parent, only my income would be considered.</p>

<p>Have you applied to the transfer school yet? If so, I would recommend you call the financial aid office and speak to someone there to clarify.</p>

3

<p>Thanks for the insight.</p>

<p>If you don't mind me asking, what school was this? Did they accept fafsa only, or both fafsa and CSS profile? How did things end up working out?</p>

4

<p>Lovehex, I just sent you a PM.</p>