I often speak to clients as a Saratoga Family Law Attorney during divorce proceeding in regards to limiting a child’s college expense costs. When parents are negotiating their settlement agreement, they 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 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.
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I advise clients as a Saratoga Family Law Attorney that 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 cap 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.
If you are concerned about the high costs of college for your child during a divorce proceeding, contact our experienced Saratoga Family Law Attorneys.
This informational blog post was provided by Kate Falco, an experienced Saratoga Family Law Attorney.
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