Divorce is one of the biggest question areas with the FAFSA. This may be because the FAFSA presents it so simply: it just asks the parents’ marital status; if “Divorced or separated” is chosen, it asks which parent’s information is going to be used. You have to read the fine print to figure out whose info the Department of Education thinks should…
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Divorced parents are probably already well aware that the financial piece of planning for college is mystifying at best. With tax season upon us, divorced parents planning to claim one of the available college tax credits– American Opportunity Tax Credit or Lifetime Learning Credit– need to know that the credit is only available to the parent who claims the student…
Get ready: the FAFSA is coming. The 2015-2016 FAFSA will be available in just a couple of days, on Jan. 1. Here are some common mistakes people make in completing the FAFSA: Not doing it: Yes, the FAFSA takes time but no, you should not skip it, even if you don’t think you’ll be eligible for aid. Why not? Because…
Divorced parents tend to have a number of questions about aid issues and college applications in general. Let’s start with the basics: Do both parents’ incomes count? And what about new spouses’? As is so often the case, the answer is different depending on the aid form. The FAFSA is simple so let’s start there. The FAFSA only counts the…