What is my official income now?

[Anonymous]

My H and I live in separate residences since last year but filed jointly. Child lives with me, H gives me some money, I work. Effectively my disposable income is around 88k/yr. however as a married couple our income is upwards of $250k/yr.
I filed for divorce and put a very recent separation date but it may change of course.
I want to start looking into privates for my child. What is my income now for the purposes of FA?
As well as, say, for purposes of any financial application (loan, etc)?
Thanks!

[Anonymous]

Private school generally look at both parent’s income.

[Anonymous]

Yes, unless you can prove other parent is totally out of the picture, private schools expect both parents to pay and look at both parents income.

[Anonymous]

If you filed jointly it is based on your combined incomes.

[Anonymous]

Thank you! Dad is not going to pay anything over regular child support and maybe some spousal.

[Anonymous]

Anonymous wrote:Thank you! Dad is not going to pay anything over regular child support and maybe some spousal.

Doesn't sound like your child has a history at a particular private. Sounds like you are making a unilateral decision that you will need to pay for out of your income and support, but aid will still be based on both parents income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Thank you! Dad is not going to pay anything over regular child support and maybe some spousal.

Doesn't sound like your child has a history at a particular private. Sounds like you are making a unilateral decision that you will need to pay for out of your income and support, but aid will still be based on both parents income.

You are right, child was always in public. The Dad will not pay, so yes, I will have to pay from my own income.
I will most likely have sole custody - will it help? Just seems so unfair. One of the reasons we are divorcing is that the dad doesn’t give a flying eff about the kid’s education. Refused to pay for extracurriculars etc.
But thank you.
Is college going to be the same story? Will look at both parents’ income though the other parent says they won’t contribute?

[Anonymous]

Anonymous wrote:Yes, unless you can prove other parent is totally out of the picture, private schools expect both parents to pay and look at both parents income.

He will be paying child support and maybe some spousal due to earnings disparity. I will most likely have full or majority custody.
He will definitely not pay on top of any support he is ordered

[Anonymous]

It sucks, but I don’t see why people should get financial aid just because one parent “refuses” to pay. If that works, I guess my husband and I should both just “refuse” to pay and my kid will have zero income and get a full ride at his $74/yr college that meets full need.

[Anonymous]

And what will my income be for, say, credit card application purposes? Or any benefits?
Is it household income, i.e. my salary plus any support?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thank you! Dad is not going to pay anything over regular child support and maybe some spousal.

Doesn't sound like your child has a history at a particular private. Sounds like you are making a unilateral decision that you will need to pay for out of your income and support, but aid will still be based on both parents income.

You are right, child was always in public. The Dad will not pay, so yes, I will have to pay from my own income.
I will most likely have sole custody - will it help? Just seems so unfair. One of the reasons we are divorcing is that the dad doesn’t give a flying eff about the kid’s education. Refused to pay for extracurriculars etc.
But thank you.
Is college going to be the same story? Will look at both parents’ income though the other parent says they won’t contribute?

Sending your kid to private school =/= giving an eff about school. No reason a parent should be forced to pay for private if the kid doesn't have a history at one. I 100% agree that need is based on 2 parents, if it weren't then everyone would gain the system.

If it is so important then you will find the money or you will have to be like 95% of the population and send your kid to a public school. They won't die.

Yes, not only will colleges look at both parents income, if you remarry they will also look at the step parents income.

[Anonymous]

Anonymous wrote:Thank you! Dad is not going to pay anything over regular child support and maybe some spousal.

He shouldn't have to if you are getting both child support and spousal support. Your income is $88K.

[Anonymous]

Anonymous wrote:It sucks, but I don’t see why people should get financial aid just because one parent “refuses” to pay. If that works, I guess my husband and I should both just “refuse” to pay and my kid will have zero income and get a full ride at his $74/yr college that meets full need.

You are choosing divorce. Your child is not at a private and he does not agree with private. So, yes, you should fully pay. You can use the child support to cover his portion. You should not get child support, private school, activities and anything you demand. You get child support. That covers his portion the child's expenses in your home. You are also expected to contribute.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thank you! Dad is not going to pay anything over regular child support and maybe some spousal.

Doesn't sound like your child has a history at a particular private. Sounds like you are making a unilateral decision that you will need to pay for out of your income and support, but aid will still be based on both parents income.

You are right, child was always in public. The Dad will not pay, so yes, I will have to pay from my own income.
I will most likely have sole custody - will it help? Just seems so unfair. One of the reasons we are divorcing is that the dad doesn’t give a flying eff about the kid’s education. Refused to pay for extracurriculars etc.
But thank you.
Is college going to be the same story? Will look at both parents’ income though the other parent says they won’t contribute?

Sending your kid to private school =/= giving an eff about school. No reason a parent should be forced to pay for private if the kid doesn't have a history at one. I 100% agree that need is based on 2 parents, if it weren't then everyone would gain the system.

If it is so important then you will find the money or you will have to be like 95% of the population and send your kid to a public school. They won't die.

Yes, not only will colleges look at both parents income, if you remarry they will also look at the step parents income.

No, just the custodial for college. They didn't look at my husband or mine for his kids. Never was asked. Mom lived with boyfriend so he was not held responsible.

[Anonymous]

Op here: the question is not whether or not the other parent should pay; it is what is considered income for fin aid purposes, thank you!