Financial Aid For Students With Divorced Parents

Financial Aid For Students With Divorced Parents

The rules for financial aid for the children of divorced parents can be very complicated. However, the general guideline is that the custodial parent is the person responsible for completing the Free Application for Federal Student Aid (FAFSA) form. If your stepdaughter lives with you and your husband for most of the year leading up to the filing of the FAFSA, your husband is likely the custodial parent. Otherwise, the custodial parent is your stepdaughter's mother.

When it comes to determining financial aid, the Federal government does not consider the income and assets of the non-custodial parent. One the other hand, most private colleges do consider the non-custodial parent's income and assets. So, the distribution of aid from the college itself will probably be determined using both parent's income, but Federal and State aid (which would include subsidized Stafford loans)will be based only on the custodial parent's family income.

If your husband is the custodial parent, you should be aware that your income is considered to be available to meet college needs. This is true even if you were married the week before the FAFSA form was filed and you have four children of your own to support. Most people are surprised to hear this, but it is true. If you haven't planned appropriately, you could find yourself with a very high expected family contribution (EFC) because of the inclusion of your income. To determine what your EFC might be, check out this calculator.

That doesn't mean that the non-custodial parent is "off the hook" when it comes to paying for college. Many divorce decrees specify that the non-custodial parent must pay a certain amount of percentage of college costs. Massachusetts is one of the states where payment of college expenese can be ordered by a judge.

For more information on this topic, check out the FinAid website. Also, it never hurts to contact the financial aid officers at the schools your daughter is considering attending. They should be able to tell you, at least in general terms, how they make financial aid decisions for the children of divorced parents.

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Source-http://www.boston.com/business/personalfinance/managingyourmoney/archives/2008/08/how_is_financia.html 

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TUITION GRANT & FINANCIAL AID

TUITION GRANT & FINANCIAL AID

We have a variety of options for funding your studies. Our Financial Aid Director, Brian Koplow, will assist you in assessing your needs and refer you to the best funding source. You can reach him atfinancialaid@nyfa.edu.

NEED BASED GRANT

The New York Film Academy is pleased to offer Need Based Grant to qualifying students. This is an institutional based grant to help pay for a portion of the student's cost of education in the New York Film Academy's one-year, two-year, AFA, BFA and MFA programs. To qualify, applicants must show a credible need for the Need Based Grant through documentation (i.e. parents’ income tax statement, if dependent; personal income tax, if independent). Additionally, applicants must submit an essay describing accomplishments and justification for consideration of NYFA's Need Based Grant. Students interested in workshops contact Brian Koplow at financialaid@nyfa.edu.

APPLY NOW! - APPLICATION FORM
Fax your completed application to:
Fax number: 212-674-7197
Attn: Financial Aid

*DISCOUNT TUITION* WORKSHOPS

• FILMMAKING WORKSHOP

DATE:	Dec 3, 2012 - Feb 2, 2013
TUITION:	$2,700 USD
LOCATION:	NEW YORK CITY UNIVERSAL STUDIOS
	> MORE INFORMATION

• ACTING FOR FILM WORKSHOP

DATE:	Dec 3, 2012 - Feb 2, 2013
TUITION:	$2,200 USD
LOCATION:	NEW YORK CITY UNIVERSAL STUDIOS
	> MORE INFORMATION

STUDENT LOANS

Many of our students use a Private Education Loan to cover both tuition and living expenses. -You must be 18 or older and have established good credit OR have a co-signer.

* If you have credit problems then you will need a co-signer; if you have good credit a co-signer will help you get a better interest rate.

GRANTS AND SCHOLARSHIPS

NYFA will help process any grants or scholarships a student might find. It's not easy to find sources to fund arts education and you should expect to spend a lot of time searching (www.finaid.orgreports that only 7% of U.S. students have a grant or scholarship, and that these typically total $2000 or less). Many students start the search here: www.fastweb.com. There are also some helpful books out there: Kaplan Scholarships, Peterson's Scholarships, Grants and Prizes and The Scholarship Book. These are available at most libraries and bookstores.

SCHOLARSHIP FOR INTERNATIONAL
BACCALAUREATE HOLDERS

Holders of the International Baccalaureate are eligible for a $500 per year Tuition Grant.

Additionally, International Baccalaureate holders will receive special consideration for the Need Based Tuition Assistance grant.

VETERANS

GI Bill - Funding and Veterans discount:
The New York Film Academy campuses in New York City and Universal Studios, Los Angeles have been approved for the training of veterans and eligible persons under the provisions of the GI Bill (Title 38, United States Code). In addition, all who receive this funding will get a 15% discount on tuition. Please seewww.gibill.va.gov or call 1-888-GIBILL-1 (1-888-442-4551) for information on your eligibility and how to obtain your certificate.

In New York City, the following workshops and programs are eligible: One-Year Filmmaking, One-Year Producing, One-Year Screenwriting, One-Year Animation, Eight-Week Filmmaking, Four-Week Filmmaking, Four-Week Digital Editing.

At the Universal Studios, Los Angeles campus, most degree courses, programs and workshops are eligible for benefits. Please contact Kevin Curtin, our VA certifying official to confirm that your program is approved.

          Kevin Curtin
          Phone:818-733-2600
          GIBillLA@nyfa.edu

Source : http://www.nyfa.edu/admissions/financial_aid.php

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