<p>Here's my problem: my parents are divorced and neither has significant assets yet their combined income is quite high. My custodial parent has bought a house but still owes a significant amount (home equity is low). My noncustodial parent rents and rent is very expensive where I live.</p>
<p>I am applying to selective private schools which use the CSS. The EFC calculators I have used take into account combined parent income and the resulting EFC is simply way beyond what we can afford because my parents still need to save significantly for retirement, mortages, and for when my brother attends college.</p>
<p>I know the CSS asks for a custodial/noncustodial files. It is my noncustodial parent's income (>$100,000/yr) that makes the EFC so high. My custodial parent earns about 1/10 what my noncustodial parent makes... is there any way the custodial parent can claim that they will be solely responsible for college costs and so disregard my noncustodial parent's income?</p>
<p>I REALLY want to apply EDII, but that doesn't give me the luxury of comparing financial aid packages so it's important I know!!! Thanks for any help!!</p>
<p>All I can say is you have to provide both your parents income. Either your parents won't be saving much, you get outside loans, scholarships, etc., or you try for special circumstances to adjust your EFC. You can also try regular decision so you can compare aid packages.</p>
<p>Not all PROFILE colleges require that the non-custodial form be filled out. Here is the list of all PROFILE colleges with a yes/no indication for non-custodial reporting.</p>
<p>If you're applying to one of the colleges that don't require both parents' income to be reported, try running the calculation using just the income of your custodial parent.</p>
<p>You can also concentrate on fafsa only colleges. Your custodial parent's income only will be used, and the house is not considered in the formula. While you may have your heart set on a certain school, it is important to understand the financial reality of your situation.</p>
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<p>I know the CSS asks for a custodial/noncustodial files. It is my noncustodial parent's income (>$100,000/yr) that makes the EFC so high. My custodial parent earns about 1/10 what my noncustodial parent makes... is there any way the custodial parent can claim that they will be solely responsible for college costs and so disregard my noncustodial parent's income?>></p>
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<p>Short answer...look for schools that don't require the non-custodial parent form or that are FAFSA only (as suggested above).</p>
<p>Long answer...you say that your custodial parent just bought a house but their income is 1/10 of the $100K or so for the non-custodial parent. That would be about $10,000 per year of income for your custodial parent? I have to say...that is a very low income for home purchase. Does your custodial parent have some "other " income or assets? If so, those are also reported on the FAFSA (unless you qualify for the simplified needs test). I'm a bit confused by your post. On one hand you indicate that your custodial parent has no money and on the other hand you indicate that they just purchased a home. I don't think I understand this.</p>
<p>You are figuring out some important stuff -- mainly, the COST of college MATTERS hugely. Finding a school you like that will admit you (and has a program you like) THAT YOU AND YOUR FAMILY CAN AFFORD is KEY.</p>
<p>Forget ED2 in your situation. You NEED to be able to compare offers of aid. HOWEVER, if your parents, with their combined income of $100,00 plus, cannot afford the EFC, then look to a very good state university.</p>
<p>The problem with most private colleges is that their endowments have lost money recently. I would not count of a lot of non-loan aid from most private colleges. </p>
<pre><code>So, forget ED2. Look at the state universities or the schools that have neighboring agreements with your public colleges (you can go out of state yet pay in state tuition).