Paying for Your Children’s College Education After Divorce

The prohibitive cost of education is a contentious issue, even in the most conflict-proof families.  If you and your spouse can agree on the hierarchy of worst-case scenarios regarding your children’s college education, and to protect against these, you have cracked the code of co-parenting.  More often, though, one person thinks it is worse if the child does not go to college at all and must become financially independent based on income from jobs that do not require a college degree, while the other thinks it is worse if the child borrows money for college, and one or both parents help the child repay the loans after he or she graduates and finds a job.  There is no universally right answer, but finding what works for you is even more difficult if you and your children’s other parent are divorced and unable to see eye to eye about money or parenting.  For help getting a fair share of the marital property, so that you can help your children pay for college, with or without your ex-spouse’s approval, contact a Boca Raton divorce lawyer.

The Court Cannot Force Your Ex-Spouse to Pay Your Children’s Tuition

The family court orders child support in almost every case where the divorcing couple has minor children.  Both parents have a legal obligation to contribute to the financial support of the children until they turn 18 and graduate from high school, but once one of those occurs, the support obligations end, unless the parties’ child still requires parental financial support because of a disability.  The court does not consider college tuition for young adults a fundamental responsibility of parents.

Unfortunately, the FAFSA questions about expected family contributions only make things worse.  Your children’s college education can cause conflict after divorce, but the family court’s answer is “tough luck.”

You Can Make Provisions About College Savings In Your Marital Settlement Agreement

Most financial obligations of former spouses arise from marital settlement agreements drafted by the spouses themselves, not decisions by the family court.  In your marital settlement agreement, you can stipulate that one or both parties will continue to contribute to a college savings account for your children.

Helping Your Children Afford a College Education, With or Without Your Ex

The decision of which college to attend, what to study, and how to pay for it rests ultimately with your young adult son or daughter, not with you or your ex-spouse.  The best way to help your child pay for college even if your ex refuses is to generally be in a strong position financially.  This means that, even if you want to get divorce mediation over with as quickly as possible, it is worth spending the extra time in mediation, because it will affect your finances in the long term.

Contact Schwartz | White About Thinking Long-Term About Your Divorce

A South Florida family law attorney can help you reach a marital settlement agreement that prioritizes your long-term financial stability.  Contact Schwartz | White in Boca Raton, Florida about your case.

Source:

scholar.google.com/scholar_case?case=13741938104122405686&q=divorce+deposit&hl=en&as_sdt=4,10&as_ylo=2014&as_yhi=2024