Hello. I have heard a lot about how net price calculators don’t work well in divorce situations. I am divorced so how can I estimate net price at schools for my son? Any guidance on how to adjust the NPC calculation? In my son’s case there are no remarriages, but the custodial parent makes significantly more than the non-custodial. He is applying to both FAFSA and CSS schools. He also wants to apply ED so a good estimate is needed. Thanks in advanceforany help.
I ran it separately for both parents (estimated my ex’s info), then took the loans out of one result (can’t double count them). Then added the EFC’s together. It was still a rough estimate. The aid my kid got was slightly better at s couple of schools than that. You could also call the FA office and ask if they would be willing to give you an early read.
Hopefully you are engaging the other parent in financial discussions on this, especially if your kid is thinking of applying ED so FA offers can’t be compared, and merit aid can’t really be pursued.
Is either parents self-employed or take business deductions?
Do the parents make retirement contributions?
Do the parents own properties? Equity? Other properties? Equity?
Just make sure the student has 2-3 financial safeties that are liked (schools that you know FOR SURE that you have all costs covered by family funds, assured grants, assured merit, and/or a $5500 student loan…and the student will be admitted.
Don’t have him wait until after the ED decisions come out to apply to his safeties. That is often too late…many large merit deadlines will have passed and the student could end up with no affordable choices.
My ex’s numbers showed an EFC of zero. Can I then assume that his contribution would be considered zero or would they add some percentage because my EFC is around $20,000? We do have some financial safeties in the mix.
I think in practice most calculators weight the custodial parent more than the non, so I’d guess that’s about right, @robincorn.