<p>My parents got divorced when I was in 9th grade. I live with my mom who doesn't have a job. We just rely on alimony/child support from my dad (about 36,000 per year). Do I just put down on the financial aid form the income of the parent that I am living with, or both parents together.</p>
<p>You should put the parent that you are living with because that way you will probably recieve more financial aid.</p>
<p>but there is a weird situation because my mom went to a mental hospital during my junior year (last year) and I lived with my dad. My mom is out now, but I think she may be going back. Then my dad will probably come and live with me. My mom has a below 40,000 income, but my dad is about 60,000. What do I do???</p>
<p>The part of the $36,000 that your mother recieves in alimony is considered income. The balance which is paid in child support will be calculated in your financial aid. You should file your fafsa based on your non-custodial parent (mon especially since she makes less). </p>
<p>Regarding the finances, of your non-custodial parent (dad) most schools (especially the privates) will want his financial information before putting together an aid package for you. Ultimatley, your EFC and aid will be based on their combined income of approx. $96,000</p>
<p>If alimony is paid from income earned by one parent to the other parent, why would the alimony be considered income? It's not as tho' the two parents together earned $96,000. The earned income of both parents combined is still only $60,000, (the Dad's salary) right?</p>
<p>that makes sense</p>
<p>I find it hard to beleive that if dad makes $60,000 that the court would make him pay $36,000 (over 60% of his income) in child support and alimony. Given this scenario, Dad only makes $24,000 per year. Alimony is based on the premise that the non-working spouse would have the same quality of life they had in the marriage. While no one benefits from child support (dad does not get to write it off, mom does not claim it as income, alimony however is taxable income to the mom under the IRS. I beleive that Dad gets to write it off on his taxes.</p>
<p>You're required to submit the income of your custodial parent, which in your case appears to be your mom. My guess is that even though you lived with your dad one year due to the circumstances, your mom was still (legally) your custodial parent. Even if your mom does go back to the hospital, as long as their agreement calls for her to have custody, she remains your custodial parent and it would be in your interests to declare her lower income on the forms</p>
<p>However some colleges also require the financial information from your other non-custodial parent (whether or not they will contribute). You'll have to check with the schools you apply to.</p>