Is your mom remarried?
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g, I think I’ll be fine considering my situation is a one-parent one and this real estate isn’t of significant enough value to impact me too negatively.
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Being a single parent doesn’t confer any special circumstance in regards to FA. In fact, having only one parent in the household can work against you because the formulas are harsher because the household income only has to support one adult, rather than two.
Have your dad run the NPCs on the schools’ websites.
@mom2collegekids @ErinsDad @madison85 my mom isn’t remarried but has a boyfriend! And thank you all for this valuable information! I plan on doing NPCs ASAP
Keep in mind that even for Questbridge, you must submit information, income and assets about your non-custodial parent before you receive any need based aid from their partner schools
This family has divorced parents AND real estate other than their primary residence.
The net price calculators will NOT give them accurate results.
Just do what we do with real estate that is “screwing” us over - sell it!
@justonedad my dad isn’t necessarily inclined to sell the land with the current state of the market being where it is, in 2004? Yeah maybe we should’ve sold it then and @thumper1 if the NPCs are going to be inaccurate what do you suggest I do?
You can find the actual,FAFSA formula and run that.
@thumper1 thank you!!!
@jcannon1023 I think @thumper1 means the paper form that has the formulas? Not sure.
Anyway…if you’re applying to CSS schools, then the FAFSA formula won’t tell you much.
You’re in a risky situation…where you may not get enough aid.
You mention that your dad may not be reporting all the stuff associated with his rentals …that could be a red flag and cause you not to get aid. Also, if your mom won’t provide her info, then the schools will NOT process your aid request.
As a back up, be sure to apply to at least 2-3 schools that you know FOR SURE will give you HUGE merit of full tuition or more.
How much will your dad spend each year on college?
Even your family is not making any money out of it, it is an asset with value. Just like having $200k in a checking account without interest. You are not getting anything out of it but it is still your own money.