Will My Child Have to Help Pay for College Expenses in Illinois?
Help with Your Child's College Expenses from DuPage County Attorneys
Preparing to pay for a child's college education can be a daunting task to prepare for, especially following a divorce. Depending on the costs of the school they attend, your child may also be required to help you and your spouse with college expenses. We here at Mirabella, Kincaid, Frederick & Mirabella, LLC, will help navigate the process for you and your child and assist you in determining how you will both be impacted financially.
When the court is deciding how much you and your spouse will pay, it factors in your child's financial situation too. However, what does the court mean by your child's "financial situation"? It does not refer to whether or not your child is currently employed. Also, it is important to remember that Illinois law does not give your child a free ride through college. The court expects children to apply for financial aid and take as many opportunities as possible to help keep costs down for parents in order to reduce the family's financial strain.
The court will also look at the following possible financial resources:
- Your child's savings accounts;
- Any trust accounts they may have;
- Scholarships they earn;
- Grants; and
- Financial aid.
What If Our Child Lives With One Parent During School?
If your child has been accepted to a school that they can commute from the home, it can make a major difference in paying college expenses. When factoring in the finances for both parents, the court will also consider the child's living expenses. This will help distribute a realistic cost amount for your child's utilities, transportation, and food.
If you would like to discuss with one of our attorneys at MKFM Law, we can answer any other questions in an initial consultation. If you live in DuPage County, Kane County, or Kendall County, you may contact us at 630-665-7300 to set up an appointment. We look forward to hearing from you and assisting in this process.