Addressing College Tuition Payments During Divorce And Custody
The immediacy of child custody and support can often dilute the urgency to plan for other divorce issues, like college tuition. It is important to address future college tuition costs today to help plan the funding of your children’s higher education. Typically, the details surrounding your children’s college education are outlined in your divorce or paternity agreement.
Effective Tuition Planning in Salem, Massachusetts
We understand that your children’s ages affect tuition planning. If your children are very young, the legal steps in the agreement may be vague. Your divorce agreement might say that both parties will revisit the issue of tuition at an appropriate time.
The agreement should be written differently if the children are already in high school or attending college. In these situations, it is important to consider every aspect of higher education. Our attorney can draft an agreement that addresses:
- Who will pay for the education
- In-state and out-of-state schools
- What should be included in tuition costs
- Room and board
- Health care expenses
- Computers and books
- An allowance for the student — and who will pay it
- Should the student assist with tuition
Often, parents carry a misconception about expenses. One parent’s ideas of college costs might not include clothing or incidentals. Another parent might not agree to include the expense of gas or car insurance payments. It is important to define what both parties agree to pay for, and each party’s obligation.
College Funding Issues
Today’s technological advances have increased the different avenues leading to post-secondary education. Down the road, your child may not decide to attend a traditional four-year college. Between Internet courses, community colleges and Massachusetts state schools, your children may entertain several educational options. Your child may also decide not to attend college.
We can help you address these and other educational issues. We can draft an agreement that considers several scenarios. For instance, leftover funds could return equally or proportionally to both parents. This could also take effect if a child decides not to attend college. On the other hand, leftover college funds could also be set aside for graduate school expenses.
Learn Your Optoins
Speak with us. We offer a free case evaluation. Call us to learn your options about planning for college and related divorce agreement issues.