[USER]

College related ?? For claiming kids on taxes and divorced . I’m a SAHM.

My divorce will be final in Feb /march this year . He filed in June .

We have 2 in college and one starting in the fall . In the settlement agreement we are continuing to revise he’s asking to claim

All 3 for the foreseeable future . I will be a low earner under $40k likely

Once i do find full time work . He’s a higher earner $275k . Married 20+ years . Some $$ in 529 for each kid however it’s being burned thru quickly as they are out of state schools and sophomores .

Wouldn’t it make more sense if I filed single in 2025 as head of household ? Wouldn’t my kids get a little more Financial aid ?

Is there that big of a financial gain for him to claim all 3 during their college years? I will not be able to help them financially.

I will be getting 1/2 Ira and divide the roths . It will not be accessible as I’m only 53.

Colleges do a 2 year look back but kids could apply for a special circumstance situation and we can send the divorce decree once final.

It won’t help them for spring semester but maybe for fall? We typically fill out fafsa and the CSS was only a one time deal before they entered college as freshmen.

My son got $0 from his college.

My girl did get some merit $ but no real financial aid and they both took out the Fafsa loans in their name. Need advice? Anyone been thru this ?

Any good remote jobs for entry level.

[Nancy]

Fafsa is filled out by the parent they live with/provides the most. Not attached to tax filing status So if they’ll stay with you during non-school.

You can do the next Fafsa

[Elena]

You need to claim the kids as HoH. For your own tax benefits.
When you file FAFSA, you use your income alone. Your low income will more than likely qualify the kids for at least a Pell Grant.

FAFSA doesn’t care who claims the children. The parent who supported the child(ren) the most financially over the course of 12 months is the one to fill it out. Nothing else matters.

Keep in mind, that it’s not always the higher earner who supports the student the most financially.

CSS is also not required by every college.
If you let him claim all three kids, You’re losing a big tax break by not claiming as a HoH. For you, it’ll be a tax return.

For him, claiming the kids means he will owe the smallest amount possible.

Do not let him talk you into allowing him to claim them all. You’ll lose more in the end.

With that little income it can be up to about $7K depending on your deductible and number of dependents.

Btw, one needs to have a dependent on order to file as a HoH.
I have one in college and one going in a few years.

My situation is similar to yours. Incl income. I claim the kids because in my state the custodial parent gets the right to do this w/o needing to alternate unless wanted.

I also solely support my oldest in college. My oldest benefits grately from the scholarships and grants they receive due to my limited income.

My advice to you is because I’ve lived and am living it. My finances will be different when the youngest goes and that will impact the aid for sure.

[Scott]

Tax wise he will get a greater benefit claiming the kids due to his income.

[Author]

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