Paying for College After a Divorce
How do you handle the costs of a child's college education when the parties are divorced or divorcing? New Jersey state law allows for college expenses to be allocated by mutual agreement of the parties or in accordance with a number of factors determined by the Supreme Court of the State of New Jersey. Don't sell yourself or your child short on this most important issue. Are you overpaying your share of college? Is your child receiving enough contribution from their other parent? At the Goldstein, Bachman & Newman, P.A. we have been working in New Jersey family law for over 20 years.
You can make agreements about paying for higher education during your divorce proceedings. Divorced parents should not have to bear the cost of this alone. Child support may also have to be addressed in view of the parties' contributions to the college expense.
What factors does the court consider in order to require payments?
- if the parents had not divorced, would they have contributed to higher education expenses
- the reasonable expectation of higher education for the child based on the parents' background
- how much is requested by the child to pay for college
- can the parent actually pay
- does the amount sought reflect the cost of the school and the classes taken
- what are the financial conditions of the parents (income as well as assets)
- realistic ability and goal of the child to attend college
- how much money or assets does the child have e.g., trust accounts, inheritances, gifts, etc.
- can the child work to pay for school personally
- the amount of financial aid available through loans and grants
- what is the relationship between the child and the parent, such as mutual goals, and parental guidance
Your child’s college expenses can be shared by both divorcing parents. Contact us for a free initial consultation concerning your child’s college expenses.
Goldstein, Bachman & Newman, P.A.
14 Woodward Drive
Old Bridge, NJ 08857
Phone 732-360-9300 ▪ Fax 732-360-9347
