Questions Regarding Reapplying for Financial Aid with Divorced Parents

Colleges and Universities A-Z University of Southern California
1

Hi, I’m a spring admit at USC. I have a couple questions regarding financial aid.

My parents are divorced, and I’ve been living with my mom 90% of the time since i was 4. But my “primary” parent (Mom) isn’t remarried, so they had to take into account not only my dad’s financial information, but my new stepmom’s financial information as well. /: So three incomes combined.

I’m not gonna lie. My dad makes six figures. So does my stepmom. So I didn’t get squat in financial aid. No scholarships, no nada. My dad agreed to help me cosign for govt loans, but he’s not going to be able to help me pay for a lot of it (naturally). Because even he can’t afford 60k a year for tuition and living expenses. He’s not a millionaire. And now I’m scared I’m going to graduate with 200k + in student loans.

But heres the thing. My mom only makes around 30k, she’s not a home owner, and she had to file for bankruptcy about 2 years ago. I know if they just considered her income, I could get a lot more help. She’s dating this guy, and they’re considering getting married soon. He doesn’t make all that much either.

If they get married by the time I have to reapply for fasfa and financial aid, I only have to report my mom and my new stepdad’s incomes correct? Because she’s the primary parent and married? Or will they still consider my dad and look at my previous fasfa and see that my dad makes a ton?

It would be really helpful if any of you let me know. Because if they only consider my moms and “stepdads”, I know I will qualify for a lot of aid, and i wouldn’t be stressing out about 60k a year. Thanks again.

2

YOU as a student cant sign for 60K in loans/ year. Only a parent, who qualifies financially can, BUT even IF your Dad did so, having THAT level of debt hanging over his or your head is financial suicide .
NO UG college is worth that amount of debt, whcih will increase after you graduate at 8% per year. ]
You need to find another college or start at a CC and then transfer when your parents financial situation is more settled.

I suggest you also post this query on CC’s Financial Aid forum.
there are FA experts there that can give you answers to these questions:
“If they get married by the time I have to reapply for fasfa and financial aid, I only have to report my mom and my new stepdad’s incomes correct? Because she’s the primary parent and married? Or will they still consider my dad and look at my previous fasfa and see that my dad makes a ton?”