When students apply to college, there are many forms to complete. And if they are applying for financial aid, the FAFSA is No. 1 on the list. This form asks the obvious questions: name, date of birth, Social Security number, address etc. It also asks questions about parents’ financial information to determine financial aid eligibility.
If you are separated or divorced, this part of the FAFSA raises many questions:
- How will colleges treat the income of two separate families?
- Which parent’s income is used for determining the expected family contribution, or EFC?
- Do both parents have to report their incomes?
- What do the words “custodial parent” mean?
Read the whole post: https://www.teenlife.com/blogs/how-divorce-and-separation-can-affect-financial-aid
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