<p>Can anyone shed some light for me on how financial aid is calculated in these situations? I am remarried and my daughter's stepdad makes upwards of 160K...some years in the 200K range. However, he's got kids he's supporting and will have to pay college expenses for. I am not expecting him to contribute to my daughter's education. My ex and I share custody and live close by...we could easily call either the "custodial" parent in terms of time spent at either household, though he does pay quite a bit of child support and her private school tuition. He makes about half of what is listed above. In addition, he's helping put his oldest through grad school. Any idea on how I go about running the NPCs on the college websites? There just doesn't seem to be a set up that pertains to our situation...though in talking to people, we don't seem that far out of the ordinary! Also: how much of my husband's income are they going to "impute" to me...even though it's really not on the table for tuition??? Thanks so much!</p>
<p>The schools that give the best aid are going to require the info from all parents…bio parents AND step parents. </p>
<p>The schools that are FAFSA only will only use the custodial parents (bio and step)…but that could mean getting little aid, since FAFSA is an app for fed aid…and both households earn too much for a Pell Grant. </p>
<p>The NPCs do not work well for your situation.<br>
Run the NPC’s twice using each household’s info. Many schools will not let bio-dad count the grad school child.<br>
Then combine (but don’t combine fed aid of work study, pell grants, and loans)</p>
<p>For your child’s protection, have her apply to a couple of schools where FOR SURE she will get large merit scholarships for her stats. Those can be back ups in case aid isn’t adequate. </p>
<p>Will bio-dad fairly contribute for college for all four years? Is there a chance that he might remarry and that will cause issues in any way? </p>
<br>
<br>
<p>Schools do NOT care that his income is not on the table. It exists in YOUR household. So either it means that more of his income can support YOU while YOU are paying for D’s schooling, or he will directly be contributing.</p>
<p>His income can’t be downplayed because his income helps YOU. You aren’t paying all the household bills.</p>
<p>Thanks mom2collegekids…no I think biodad won’t want to contribute a whole lot, but I can’t fault him as he needs to bump up his retirement savings. He has been extremely conscientious about providing for her and I’d like to see him take care of his own financial future. I’ve been socking away as much as I can of what he pays now. I get what you mean about the money from my husband being “available” to my household/my support–and I don’t mind working more to pay for D’s schooling–but then of course that’s joint income being paid for my child’s education, which is in essence him paying for it. At any rate, at least we are in a position to have options and I’m certainly not complaining about that! Thanks so much for the tip to run two NPC’s…I was wondering about that. Have a great weekend.</p>
<br>
<br>
<p>I want to clarify. You wouldn’t add the institutional grants either. You would be looking at the family contributions and adding those.</p>
<p>So, If your household’s finances have indicated that your household should pay $40k, and then your Ex-H’s finances indicate that he should pay $18k, then if you add them both together, the total contribution would be $58k. So, in many cases, that would indicate no aid except maybe a small student loan. </p>
<p>That said…after looking at your H’s income again…Your H’s income is so high that his income alone would mean NO aid at nearly all schools. And then you would have to add in your income and the assets that you and your H have.</p>
<p>So, it really doesn’t look like your D would qualify for any need-based aid at 99% of schools.</p>
<p>Are you prepared to pay $60k per year for college? If not then instate publics or other schools that will give merit may be the affordable options.</p>
<p>but, if you’re willing to pay whatever it takes, then super! Your D will have lots of choices.</p>
<p>Interestingly, some of the EFC’s had us only contributing 22-25K, and my ex 12K. Perhaps it’s because we have four kids between us and they’ll all be in college at the same time (one will be a grad student)? Or perhaps it’s inaccurate. No, I don’t think 60K a year is do-able…have already talked to her about merit. I have no doubt that when the time comes she will find a place that’s right for her and one that we can afford. I have faith in that because the more we look at colleges, the more excited I get about what is out there. She’s a very outgoing kid, involved in the community and doing lots of volunteering and leadership. Her grades are good.</p>
<p>Thanks again for your input. I have learned so much from this site…</p>
<p>Some schools will not count that grad student as a member of your household attending college.</p>
<p>I would suggest that you set a budget for college purposes…what you CAN pay for each of four years…and help your student find schools that are affordable for your family.</p>
<p>You said you have been stocking away as much as you can of what he pays now. Is this in a 529? Also, how much is the private high school-can he continue to pay that amount but toward college costs?</p>
<p>Yes it is a 529 but I have some in regular savings as well. As far as him continuing to pay the same amount as her private school tuition…I think since he’s in his early 50s and hasn’t done much to prepare for retirement, I can’t in good conscience let him do that. Someone earlier suggested we run a budget…which of course I have done. I just had heard varying opinions on how much the non-custodial stepparent’s income figured into the calculation. The extent to which it does of course affects the budget. </p>
<p>Bottom line, I can work more and we will make it work…and I am very grateful to be in that position. Thanks again so much for the insight and helpful suggestions.</p>
<br>
<br>
<p>As mentioned above, some schools will not count the grad student because the expectation is that parents are to provide for undergrad, and the student (or his grad school) should provide for grad school. </p>
<p>Yes, there will be some discounting for multiple as undergrads. I am not sure how schools calculate if your H’s children are being counted. Yes, they will get considered, but I wonder how your D’s schools will consider that their mom should also be contributing to their college costs. I wonder if anyone here has faced that issue with a CSS school.</p>
<br>
<br>
<p>That is good. Just be aware that as YOUR income goes up, EFC will go up as well. You will still come out ahead, but just be aware of the fact that if you are currently figuring that you need to earn $10k more, then you really need to earn more than that because of how the increase will impact the results.</p>
<p>and, of course, as each sibling-undergrad graduates, your EFC will go up a LOT.</p>
<br>
<br>
<p>you’re a thoughtful ex-wife. :)</p>
<p>
</p>
<p>For most schools with good financial aid, include the income and assets of both your household and your ex’s household. This includes any income from current spouses.</p>
<p>The exceptions are schools which use only FAFSA or which state that they do not use non-custodial parent information, in which case include only the income and assets of the custodial parent household.</p>
<p>If there will be changing situations about the number of kids in college, be sure to run them for the various scenarios of the number in college.</p>