Thursday, May 13, 2010

How will getting married affect financial aid?

My fiance is in school and gets financial aid. I make 55k a year w/ 2 kids. Would she continue to recieve financial aid or would I be expected to contribute to her education?How will getting married affect financial aid?
First of all, marital status cannot be changed on a FAFSA once it is filed. So, if she is currently receiving aid under the 07-08 FAFSA and you get married now, it will not effect her current aid.





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All the best to you.How will getting married affect financial aid?
Your income would affect her financial aid.





Even if you get married after she signs the FAFSA, she is expected to update her financial situation at the beginning of the school year (%26amp; with any major changes) with the school's financial aid office.





Take a look at a FAFSA, you'll see what they take into consideration. Any child support you pay out will be deducted from your income.





There are students who have parent that do not pay anything towards their education. Their parent's income still needs to be listed on the FAFSA. The financial aid office determines how much the parent(s) should contribute towards their child's education. In the same manner, they will determine how much of your income should be contributed towards your wife's education.





I got married while attending school. I know this from first hand experience.





All updates are done at the school's (college, university, etc) financial aid office not by turning in another/updated FAFSA!
Marital status is a required question to answer on the FAFSA. The marital status is determined as of the day you sign the FAFSA. So, if she completes the FAFSA now, she would not indicate she is married and would only need to use her own finanical information. Does she have any kids of her own? Does she live with you? The FAFSA will also ask for the number of people in the household. But, she should only include those in the houshold that she provides more than half of their financial support.





I hope this helps!

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