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've been doing college funding
workshops at Connecticut high
schools for close to 10 years now,
and I've met hundreds of high school
parents looking for the "golden ticket"
that is going to make paying for college
somehow magically affordable.
By my count, about one in four ap-
pointments I have with workshop
attendees are with single parents
typically moms. Late 40s, early 50s,
divorced. As part of the settlement, she
got the house and joint custody, but
the children seem to spend the major-
ity of time residing with her.
She is due alimony and child support,
usually until each child reaches age
18. Sometimes the ex is good about
paying, and sometimes not. But a
financial time bomb had been planted
deep in the divorce agreement that
is now about to detonate: paying
for college.
Often the agreement is that the parents
will share the cost of an in-state public
university. But at that moment when
the agreement is signed, often years
before that college acceptance letter
arrives, neither parent (nor attorney)
has a clue as to how that is actually
going to happen.
By John F. Pearson, CPA, CASL
College Funding
Survival in the
Wake of Divorce
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