I am a widow. My boyfriend of 7 years and I are contemplating marriage. He is an Italian citizen. If we get married and he doesn’t have a job would this still affect the financial aid package my son is currently obtaining ? Thanks for your insight !!!
When the only parent marries, the income and assets of the step father are going to be included in the aid calculation, which can make your EFC higher. But you will also have larger family size, 3 instead of 2. And married couples have a larger asset protection than singles for the EFC calculation. So it is definitely something to look at and understand the impact of, before you get married.
Does he have any assets? And does he plan to not work over all the years you will be filing for aid?
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he doesn't have a job <<<
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?? If he doesn’t have a job, then how would that hurt your son’s FA???
How does he support himself? Does he have a trust fund he lives off of? If he’s living off savings/assets, then yes that can hurt your son’s FA because his money would have to be reported on the FA forms.
as BrownParent notes…if the plan is for him to work after you marry, then yes that income will hurt your son’s FA.
If your future husband’s finances (either current savings or future income) will hurt your son’s FA, then wait until after you file FA forms during your son’s junior year of college to marry. You’ll be single still at that point, so no spouse to report.
If your BF just plans on having you support him for the rest of his life, then marrying him won’t hurt your son’s FA, but it may hurt your bottom line. <= That may be your bigger concern in the long run
Well…if your new husband doesn’t have a job, it won’t change financial,aid…unless he owns a villa in Itsly or some other real estate, or has assets.
But as noted, if you are concerned about finances…this will create another person for you to support and your bottom line will be affected. Of course, if you are living together already, that is already the case.
But once he gets a job, if you are married, his country of citizenship doesn’t matter a speck. His income and assets will need to be reported on the financial aid application forms.