If the parents are divorced, who should serve as the custodial parent?

custodial parentDivorce is a difficult process, but in the case of financial aid, it has its advantages. Since the EFC depends on the reported wealth of only the custodial parent for most colleges, it may make sense to have the less affluent of the former spouses serve as the custodial parent through college. In doing so, the student may become eligible for many financial aid programs and receive financial aid filing advantages that are based on certain income and asset ceilings.

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