FAFSA and Studets Parent/Remarriage

What is the fafsa? When should I apply for financial aid?

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FAFSA and Studets Parent/Remarriage

Postby devdude1962 » Tue Jan 15, 2013 8:38 am

My Stepson has an unusual situation, at least one that I have not heard of on this forum. His biological parents are both remarried. His Father who claims him on his 1040 makes over 100K and had a wife who makes minimal wage income. His Mother (my wife) has total household wage income of about 107K this year. My Stepson lives with us more than 50% of the time. Am I correct to include just his Mothers and myself income on the FAFSA? It seems like the Fathers Household income should be brought into the form somewhere. I know it would probably reduce any aid or grants but I want to fill out the form the right way.
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Re: FAFSA and Studets Parent/Remarriage

Postby Aid Whiz » Fri Feb 01, 2013 1:27 pm

This is interesting.

Since your stepson lives with you more than 50% of the time, for FAFSA purposes, you only need to include your and your wife's financial information - not his biological father's.

However, there does seem to be some conflicting information here. You mention that your son's biological father claims him on his taxes, yet he lives with you more than 50% of the time. According to tax laws, you may only claim a dependent who lives with you more than half time, so it would seem that the father is ineligible to claim the son as a dependent child.

For help, you may want to consult a financial advisor or talk with the school's financial aid office - being claimed inaccurately on a tax form may affect the FAFSA, so I'd suggest calling the school's financial aid office to learn more.
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