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Home / Blog / How Divorced Parents Can Plan for College Costs

How Divorced Parents Can Plan for College Costs

College is getting more expensive every year, and many parents wish to help their children pay for at least a little of their schooling. When you’re divorced it might seem particularly challenging to make such an investment happen, but there are still ways you can plan ahead for college costs.

Here are a few tips.

  • Start early: The sooner you start the conversation with the other parent, the easier it will be to engage in a long-term, well-planned approach to investing for your children’s education.
  • Keep up to date with FAFSA rules and changes: Beginning this year, the parent that provides more financial support is the one who must fill out the FAFSA, and thus will be the one whose financial situation determines eligibility for financial aid. But this could always change, and it’s important to stay abreast of these changes as it could affect the way you and the other parent strategize your savings.
  • Work with a financial planner: A professional can help you determine the best savings vehicles and strategies to use for your situation. They will also be able to stay on top of all the FAFSA changes and how financial aid formulas could affect your overall savings strategy.
  • Think about borrowing: What student loan options exist, and how can you reduce or minimize the amount of interest to the loan? Plan in advance as much as possible and shop around for the best options.

For more information about planning for your children’s college costs as a divorced parent, contact an experienced Minnesota lawyer at Appelhof, Pfeifer & Hart, P.A.

By Appelhof, Pfeifer & Hart, P.A. | Published July 18, 2022 | Posted in Divorce, Family Law | Tagged divorce costs, preparing for divorce

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  • "Tori had a thorough understanding of my situation and made excellent recommendations to resolve my concerns. She was persistent on communication and handled everything in a very timely manner. I would definitely hire her again in the future if needed." - M.K.

  • "With Appelhof, Pfeifer & Hart, P.A., it is like having a family physician. They are all knowledgeable, thorough, comforting, and the only call I need to make for all my legal needs for many years to come. No matter what the matter, I totally trust their advice and commitment to me and my family." - J.N.

  • "Mary from APH Law helped me thru a difficult divorce. She and the entire staff was there for me every step of the way helping me on what to do next. They listened to what I wanted and helped me achieve what matter the most to me in the divorce settlement." - Dana C.

  • "I chose APH after my initial consultation with Mary. I felt my best interest would be represented. The entire process went excellent, the attorneys and staff communicated effectively and efficiently with me throughout the process as they needed to. Being new to the legal process and verbiage, they walked me and talked me through the next steps and the jargon, I felt completely comfortable and represented. I hope I never have to use legal services again but if I do I will call Mary at APH Law and know that I will be taken care of." - Jeff M.

  • "Divorce is a time of emotion and stress. Mary Pfeifer , My lawyer was professional and compassionate. She was very informative through the process. Her insight helped me in my decisions. She worked hard to obtain a settlement which was fair to both parties. Though, I hope I won't need her help again. It is reassuring to know a good person that is willing to help." - Rod S.

  • "I first came to Ms. Jacquelyn Lutz of Appelhof, Pfeifer and Hart in October of 2016. It was definitely the worst time in my life and she compassionately spoke with me about my options. Ms. Lutz thoroughly explained the laws, statutes, process and what to expect going forward. What was supposed to be one case, turned into three intricate cases that took a huge toll on me and my family. Ms. Lutz represented me in court on all three cases with a vast knowledge of the laws and how to proceed accordingly. During all three cases she kept me informed, calm, gave me resources to utilize, and (most important) gave me a realistic view of what may come next. Ms. Lutz knew each case required a great deal of knowledge and creative thinking on how to legally proceed forward with each case. My family and friends are forever grateful for the amazing representation by Ms. Lutz. I highly recommend Ms. Lutz for anyone needing or considering superb representation for any kind of family law. " - M.H.

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