Top 5 Financial Aid Applications:-

Top 5 Financial Aid Applications:-
There are many different types of Financial aid grants available today from Federal, State and Private Agency's. Picking the right type is essential for your success. Listed below are the a few of the more common types of state grants. The specific explanations of each type of grant along with their requirements and what purpose they are intended for is provided. In the Free Grant Guide Book here we explain various types as well as where and how to apply for them. You'll also get complete detailed guidance on writing your grant proposal as well as the addresses and/or phone numbers for Federal, State and Private Agency's to contact for further details. In order to succeed in obtaining your grant you'll need to be well informed. You'll need the very specific kind of information we offer in our Free Money grants. Apply Today your scholarship and student loans!!

Wednesday, 28 March 2012

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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Posted by Apply Grants at 23:40

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