Princeton NPC

[twoinanddone]

Divorced parents are unique in that the IRS allows them to ‘give away’ the exemption without regard to the rules. Other credits are not that way, including the AOTC

[Ceciliaagnes]

@moscott, I can say that the npc was very close to the package I was given this year. Have they still not given your son his package?

[BelknapPoint]

Have they still not given your son his package?

OP has referenced a college entry in fall 2019, so I don’t believe that there has been any package to receive.

[moscott]

@Ceciliaagnes @BelknapPoint Correct, S is a 2019 football recruit and we are trying to determine if it is feasible to consider Princeton as 1 of his options. We do have a pre paid college fund which will help but given he may also receive a full ride to other schools outside the Ivy league we are considering possible choices based on finances.

[Tanbiko]

AOTC follows exemption - the parent who claims the child has to claim AOTC.

OP, you can call Princeton finaid and ask questions. I believe there is an email option too.

[twoinanddone]

Athletic recruits can get a preread as of July 1 of senior year, well before any commitments are due.

You have plenty of time to set up the custodial parent for FAFSA/taxes now, but it doesn’t sound like you need to change anything. Even if you haven’t been keeping track of overnights with each parent, you don’t have to even start until Oct 1, 2017 (assuming you will file Oct 1, 2018 for the 2019-20 school year). Planning is good, worrying isn’t.

[moscott]

@twoinanddone Very helpful info…thank you much appreciated. Deep breath lol.

[sybbie719]

The NPC is only going to be as accurate as the information placed in it.
@moscott, If you are the custodial parent, have you remarried? If yes, have you run the numbers using the income/assets of your current wife?

If you have not remarried, Princeton will require the income/asset information from both you and your ex-wife.

@Princeton financial aid

Separated or Divorced Parents
If your parents are separated or divorced, and the parent you live with has not remarried, you will have one additional requirement to complete your aid application. Both parents are asked to provide their financial information so we can determine their individual contributions for college. You and your custodial parent should complete the PFAA on the Web and the Free Application for Federal Student Aid (FAFSA). For the purpose of confidentiality, your non-custodial parent’s information is submitted separately using Princeton’s Non-custodial Parent’s Form, which is available from this office and on our website in printable format.

(However, if your custodial parent has remarried, then your stepparent’s information should be included on all forms, and your non-custodial parent is not required to submit an additional application.)

Under exceptional circumstances, the non-custodial parent’s information may be waived at the discretion of the Financial Aid Office. Applicants can receive consideration for a waiver by submitting the Non-custodial Parent Waiver Request, available on our website.

Apply for Financial Aid | Princeton Admission

[moscott]

@sybbie719 No neither parent has remarried so hopefully should be a little easier to calculate since it will be this tax year used for FA.

[thumper1]

@sybbie719 makes a good point. At the end of the day…the income and assets of BOTH parents will be required by Princeton.

[moscott]

@thumper1 @BelknapPoint @twoinanddone @mommdc Just as future reference I did get in touch with Princeton FA office and was told the value to place for the college fund would be the cash out amount of what I originally paid.