College Expenses and Divorce
Divorce is a very sad time, especially when children are involved. You feel scared, isolated, and unsettled. You may be thinking long-term expenses such as college expenses and you don’t want your divorce to affect your child’s future education opportunities. If you have concerns about this, you are certainly not alone. Here is some information to ease your concerns.
Can a Court Require Me to Pay College Expenses?
A court is empowered to direct parents to contribute to the college expenses of the child. The court—in determining this—will consider the parent’s educational background, the child’s academic aptitude, as well as the financial circumstances of the parties.
Limiting College Expenses to a SUNY School
When parents are negotiating their settlement agreement, they of course, discuss their financial obligations to their children. This will include college expenses. Whether that child is young or old, it is something most parents will consider at the time of their divorce. Oftentimes parents are concerned, however, about the high cost of tuition, not knowing what college that child is going to enroll in. They have no clue as to what the actual expense is going to be or even what college that child is going to attend.
The parents will oftentimes limit what that financial contribution will be by setting a cap on the tuition and other expenses to be paid. You’ll see that as a cap on saying it will be no more than what it costs for that child to attend a SUNY level college, regardless of whether or not that child attends such a college. Parents will also define what the expenses are meaning tuition, room and board, or school fees. Parents may also require their child to exhaust their financial resources such as student loans, scholarships, and grants.
Jean Mahserjian, is a New York family law and divorce attorney in New York. The practice encompasses all areas of family and matrimonial law. Contact us today for caring, dedicated, and dependable legal services.