How Does Having Divorced Parents Affect Financial Aid?

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When a student has divorced parents, they will use whichever parent has sole custody or which parent provides more than 50 percent of the student's income on their financial aid application. Find out how the FAFSA only takes one parent into account with help from a financial aid officer in this free video on student financial aid and loans.

Part of the Video Series: Student Financial Aid
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Video Transcript

Hi my name is Brooke Kramer and I'm a financial aid officer at Argosy University and today we are going to find out whether having divorced parents will effect your financial aid. Pretty much what happens if your parents are divorced and you are a dependent student wanting to get student loans the first thing is to actually complete a free application for federal student aid. Now during this application they are going to ask questions about your parents and at that time you will enter that your parents are divorced then you will use which ever parent has sole custody or provides more than 50% of your income on to the application so they only take one of your parents, whichever parent is taking care of you the most and enter that on to their FAFSA. Usually they just take this one income into account and then they will create an expected family contribution number for you and for your, based on you and your parents' tax information. If you have more questions on whether your parents being divorced will effect your student loans or other financial information you can go to the Department of Education website and they can answer those questions for you there as well. If you have any other questions please feel free to check out our website at www.argosy.edu.

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