I don't remember them asking about retirement accounts when I did the FASFAs for my daughters--maybe you can tie up that money in a way that it won't count. (they do ask about savings accounts)
I agree with you, that it isn't fair. But you know your SD can get student loans and that is what a lot of kids do when they or the parents don't have the money to contribute. My daughter had friends that got zippo from their parents (and they had means, too) And no, I don't mean that you need to be co-signers. It's really up to OSD, how bad does she want it. The college education of your choice isn't a given. Nor should they expect parents to pay the bill 100% in my opinion. In my house, anything not covered by FA was split between Mom, EX and daughter.

Belle - I just went to a financial planning seminar for SD's college. They told us the same thing - and that is...

Only the custodial parent (and custodial step parent) income is included UNLESS it is some of the bigger / more prestigious / Ivy League colleges. Then, those colleges do ask for all parents / step parents income.

I did learn a few good things at the seminar and that was that you might want to look into colleges that are Ivy League, but have a reputation for picking up the rest of the "need". For example, we were told that Colgate is actually very good about picking up more of what is not covered than some other colleges.

He covered a lot of ground - but you are probably more familiar with it, as you have gone to college.

Also, there is a new tax deduction this year. It's supposed to be a 4 year tax deduction, but they only signed it up for 2 years so far. Here's the link... Hope Credit. http://www.irs.gov/publications/p970/ch02.html#en_US_publink100020766

Finally, the gentlemen running this seminar was really a financial planner. So part of the seminar was a sales pitch to use their office services. We cannot use him this year, as we don't need to file any forms yet. But I am thinking of using him next year. Their job is to keep up on the tax credits for college, as well as have some inside info on applications, colleges that are more likely to help with need, etc. The cost (here) would be about $300. To me, that's worth it, especially since they help fill out all of the forms for the different schools, etc. . Do you have anyone in your area that does this? And would you be interested?

Finally, the best advice I thought that I came away with from the seminar was to talk to your child about not just having a back-up choice of school for academics... but to have a back-up choice of school for financial assistance as well.

** One other thing. I've been talking to a lot of people lately about SD's college. And almost everyone that I have talked to (and have heard about with my nieces and nephews is this).... Encourage your child to go to a less expensive school for the first two years and then transfer credits for the last two. This does two things. One, during that first year, when they are still trying to figure it all out... they are doing so at a less expensive school. And two... when they do graduate, their diploma says the more prestigious school. Not sure if your SD is interested in trying that.

Sorry about this. I am already stressing about this same stuff as I know we are going to have to deal with BM on it next year. Yuck!

((( Hugs )))

*** A rainbow just threw up on me... and now I'm sh*tting glitter! ***

Just include both bioparents income info instead of yours. The school won't argue if both parents do this. The forms are outdated somewhat. They refer back to the days when people widowed and remarried.

Sorry that this situation caught you off guard. It is unfortunate that her parents didn't plan better for her college education. Now I can add this as another question future myself and other future stepparents should ask before making the decision to get married. It sounds like you are carrying a great deal of the financial burden as it is,so this has to be frustrating. Anyway,maybe this link will help,and perhaps keep you from getting in trouble with the government.

http://www.easyaid.com/financial_aid_faq.html
Here is a little bit of the link---
My parents are separated or divorced. Which parent is responsible for filling out the FAFSA?

If your parents are separated or divorced, the custodial parent is responsible for filling out the FAFSA. The custodial parent is the parent with whom you lived the most during the past 12 months. Note that this is not necessarily the same as the parent who has legal custody. If you did not live with one parent more than the other, the parent who provided you with the most financial support should fill out the FAFSA. This is probably the parent who claimed you as a dependent on their tax return. If you have not received any support from either parent during the past 12 months, use the most recent calendar year for which you received some support from a parent or lived with either parent.

Note, however, that any child support and/or alimony received from the non-custodial parent must be included on the FAFSA.

Financial aid applications can be somewhat confusing because there are several different criteria applied for different kinds of parenthood:

1.The parent with whom the child lived the most during the past 12 months.

2.The parent who provided the most financial support to the child during the past 12 months.

3. The parent who provided more than half the child's support (and will continue to do so).

4. The parent who has legal custody.

5. The parent who claimed the child as a dependent on their tax return.

As noted above, criteria 1 and 2 are used for determining the custodial parent, with the first criteria being primary.

The future depends on what we do in the present. - Mahatma Gandhi

Do NOT give your financial information. If the school harrasses you for it, gently state that you are NOT obligated by law to provide for this child who is NOT yours. PERIOD. If the school has a problem with it, or doesn't provide the financial aid to your skids based on this, so be it. If the skid gets ticked at you for not providing such information, so be it. The the skid to get a lawyer and attempt to fight it, WITHOUT YOU.

Good luck, who the F#$%#$% do these people think we are? I swear, maybe what I need to do is divorce so that my son has 4 people instead of 2 responsible for his financial well-being...ridiculous!

So everyone...I went surfing on the net regarding FAFSA and who's income should be submitted and whatnot. I hate to admit, more so because someone on here as adopted her know-it-all SS's attitude but she's right, and I stand corrected. Unfortunately, there are no exceptions when it comes to custodial parents and their common-law or married others. They both must submit their incomes. Even if you file separately, have a prenup, or the kid files as an independent, none of it matters. The kid would have to wait until they're 24, married, or had a child to exclude their custodial parent and step parent's income. If you don't, the kid will be refused of financial aid so you're only hurting them. ((step-parents have leveage afterall)

However there is a little good news I discovered. Kids, regardless of the financial standing of their parents, qualify for the unsubsidised Stafford Loans. Also, there are no co-applicants. Student loans are acquired personal debt. The kid own's it, owes it, no one else does. If the kid doesn't pay, their wages will be garnished just like child support.

This is smart actually. A student acquiring personal debt has an incentive to keep going to school or risk their credit being screwed. Welcome to the real world!

So then, why does the FAFSA ask for the parents incomes if they're not going to be co-applicants? I believe the FAFSA knows that most parents contribute to their kids' education. More money is given to an instituion which has an ample amount of salaried parents who will pay the loans off. It's preverbial security. This is just my guess.

I hope this calms everyone's fears somewhat. It did for me.

SPOILER ALERT: about the movie 2012: SKIP THIS PARAGRAPH IF YOU DON"T WANT TO KNOW THIS:
I saw 2012 yesterday, which was fun, except one of the characters is a stepdad, and I just knew that they were going to get rid of him so that the divorced parents could get back together and reunite the "real" family.

------------> Thanks for the warning! Won't be going to see this!

___________________________________________________________________________
“The challenge is to help couples turn "I Do" into "We Can."

One thing I would suggest to your skids is start applying for scholarships and grants. Even if they're in highschool. I was young and dumb when I was in highschool, I applied for 1 scholarship, guess how many I got: 1.. I've told all my cousins this, the scholarships and grants don't come looking for you, but that's free money to pay for school that you don't have to pay back. Apply for as many as their pretty little fingers can type up...

If I knew then what I know now....

Good Luck!!!

btw this site is just adding to my reasons to post-pone our wedding for 8-10 years.. lol

If I understand correctly, that you are the spouse of the NCP, then there is no reason for you to provide financial information for federal student aid. As another poster has stated previously, private instuitutions have a little wiggle room as far as their own requirements for institutional aid.

All the FASFA does is determine whether you qualify for federal grant OR loan. Loans are limited to a certain amount per year and just about anyone can get a loan. The schools use the FASFA to determine "family contribution." For example, a private college determined that we should contribute $17,000 to DD for a $30,000 a year school. Not going to happen! She went to the state university instead and paid for it with a combo of federal loans, town scholarships (we had a great program), school aid (dean's scholarship), her own earnings, and contributions from her dad and I. As primary parent, I filled out the form with my 2nd H, divorced from BD, who had to send in his own info separately to the schools. So the schools can tell you what you "need" to contribute but they can't force you to. That negotiation needs to happen with the kid. Also I refused to take out any loans for my kids' education. That is a bad idea! They can take out their own loans. If your DH insists on borrowing, DO NOT co-sign!