Divorced? You may still pay for college!

Disclaimer: We're not Attorneys, nor are we practicing law or giving legal advice.  This presentation is merely for educational purposes.
(If you ever needed evidence that the Education Establishment has brainwashed society about the parent's "obligation" to "bleed themselves" to pay for college, read on!)

When will your Payments Stop?

Every Divorced Person who pays Child Support is well aware when it will be "OVER."  In many states, it ends when the child turns 18, or graduates from high school (depending on your state's laws).  While the money is flowing out of your bank account, it seems like you'll never get ahead financially.  (Some parents have told me "they'll never be able to retire" because they're financially drained by paying support.)

But then ... as child support ends, there will be more money available, and you can finally hope for a brighter future.  Not so fast!

Parental Support for College

But wait!  Some states have passed laws that require "non-custodial" parents to fund at least part of their children's college expenses.  

Other states have case law (court decisions) that have forced the same.  (A list is at the end of this post. *)

What does that mean?  With college costing so much these days, you could be paying Thousands MORE $$$ to support your children while they pursue beer bashes ... I mean higher education.

How many More Years will you pay?  
Well, you might luck out if they're only thinking about a two-year certification (there are many, including police, fire, corrections, health-related, vocational, etc.).  For a "regular" four year degree, relatively few students finish in four years.  Five to six years is more typical unless they "need" graduate school (another 2-5 years, possibly)!

How much will this Cost?

How much will you need to cough up?  It might be half, or more, or less than half, depending on many factors.  Who knows what the court will impose!?  College expenses may include anything the court sees fit, such as: tuition, dorm & meal plan, fancy smartphone and computer, food (beer) and clothing (designer labels, of course) allowances, transportation, emergencies, (Cancun trips), etc.

How Much Will You Pay?
Courts may look at various factors when deciding how much money you MUST pay for your child's college.  They can include:

1. Did you previously say you'd pay for college?
2. Did you (or your Ex) "expect" the child to attend college?
3. Did you or you Ex go to college?
4. Did you and your Ex have a voluntary agreement about college funding? (Sometimes required by law)
5. The child’s interests, goals, or academic achievements (no matter how unrealistic or impractical or unemployable they are)
6. The child’s financial aid, earning ability in college, or money saved, etc. (Does your Child claim they're "too busy studying" to work?)
7. The financial situation of YOU and of your Ex
8. Your relationship with the child (hopefully not "poisoned" by your Ex)

Notice that you have (or had) control over the first two items on the list.  I call that "expectation management."  The rest is out of your control.  You are helpless.  True, there may be conditions imposed on your child's "performance" in college (such as maintaining enrollment, GPA requirements, etc.).  Good luck with that.

What are the Worst-Case Scenarios?

Total college expenses can range between $20,000 to over $40,000 or more per year.  Let's say you contribute HALF.  How many years will you contribute toward that?  Four?  Six?  

• Well, I'd hate to guess, but the damages could range from $20k-$50k range for public colleges to well over $100k (for that private college you told your kid they'd attend).
• Worse, your child's interest could be an "unemployable" College Major.  (Hello, minimum-wage barista job!)
• What's another possibility?  You pay for several years ... and they NEVER GET A DEGREE!  What fun!
• All the above, "times" the number of children you have!

No Worries?
What's that, you say?  Your kids are young, and you're happily married?  Well, your kids will grow, and things in the marriage can change suddenly.  NOW is the best time to start managing expectations with your kids, and agreement with your spouse.


Call to Action

First, your child needs to have realistic career ideas. Then determine if college is required.
College is an expensive way to find out they:
          Didn't need the degree
          Couldn't finish the degree (with lots of debt; or less retirement for you -- or both)
          Can't find a job in their major (wasted degree?)
          Hate the career resulting from the degree
          Can't succeed because they lack skills or aptitudes not teachable by "classes."
Each of the above "stages" has probabilities, not guarantees! Many high school graduates fail in one of those five critical areas.
Do you want to gamble years of paying their college tuition for a poor career bet?   
Outsmart College and the Contribution Project will provide the answers! Stay tuned for the next post.
__________

If you are interested in REAL career prep for your child, contact me NOW!

_____________________________________________________________________
We make no representations as to accuracy of the list below, since laws (and case law) change all the time (and we don't know when you'll visit this page).

* Below is a list of states believed to have laws or court cases requiring college support.

Alabama, Arizona, Colorado, Connecticut, D.C., Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Maryland, Massachusetts, Mississippi, Missouri, Montana, New Jersey, New York, North Dakota, Oregon, South Carolina, South Dakota, Utah, West Virginia, Washington

ALWAYS seek qualified legal advice from an attorney in your state!

_____________________________________________________________________