Who is Responsible for Paying for College After a Divorce?
For many young people, going to college is one of life’s most significant events. Understandably, many parents want to help their children through the decision-making process and help financially with the cost of college, if possible. What happens, though, when you go through a divorce? How does that affect the price of college, and what options or obligations do you have for sharing the cost of tuition? Let’s take a closer look at the law together.
What Does North Carolina Law Say About Paying for College After a Separation?
When considering who might pay for your child’s education after a separation, it’s important to understand that under the law, neither parent is required to do so. In North Carolina, the law says that legal child support obligations typically end when the child turns 18 or 20, if they’re still in high school. As a result, it’s important to understand that if you go through a divorce and take your case to court, a judge will not force either parent to pay for a college education, unless they agree to do so.
Of course, this leads to the question – can parents agree to do so, and can they make that agreement binding? The answer to both of these questions is yes.
Reaching an Out-of-Court Agreement
Increasingly in North Carolina and all across the country, couples who are seeking divorce are turning to out-of-court options for resolving their issues. Today, there are a variety of methods, including mediation, collaborative law, and others, through which a couple can meet, negotiate, and create an agreement that will subsequently be submitted for approval by a court.
There are a variety of advantages to choosing one of these options. One of the most important advantages is that choosing to discuss and resolve issues together truly gives couples the freedom and flexibility to find the solutions to those issues that work best for their family and their future. After all, the truth is that even the most well-intentioned judge will not know your family’s unique needs as well as you do.
Ultimately, if you can work cooperatively with your spouse, you can address the issues between you in any way that suits your family best. This is not to mention that typically, you will also save money and time, and avoid a great deal of stress by doing so.
Once you reach an agreement and put that agreement into writing, it will be submitted to a court for approval. If a court approves it, that agreement will officially become binding on both spouses and will be the agreement that governs the issues between them until and unless it is later modified in the future. Deciding who pays for college is certainly one of the issues that can be addressed in such an agreement, and choosing to address the matter this way can give the spouses (and their children) peace of mind in knowing how they will move forward.
Your Options for Paying for College After Divorce
If you and your spouse choose to determine who will pay for college in an out-of-court agreement, it’s important to understand that your options for doing so are only as limited as your creativity and willingness to compromise. You can truly choose what works best for your particular situation, and that’s a definite advantage. Paying for college after divorce doesn’t have to be a contentious issue, it can be an opportunity to plan intentionally for your child’s future.
Be Budget-Friendly
As you decide how to address the issue, keeping a few things in mind can be helpful. The first is to manage expectations – yours and those of your children. It’s no secret that college costs have recently been rising – sometimes a great deal. Most recent estimates indicate that public four-year in-state universities currently have an average tuition of $29,900 per year, while out-of-state public universities average around $49,100. Private universities currently average around $63,000 per year. Understanding these costs and being realistic about what you can afford is essential.
In some cases, your child may want to attend a particular school with a tuition that would be far too expensive for you to manage, or that is so far away that travel costs would be burdensome. Having a discussion beforehand about what you can afford and what you are willing to pay for can help ensure everyone is on the same page.
Discuss Your Options
After determining a budget for college expenses, you and your soon-to-be ex-spouse will want to discuss the specifics of how you’ll pay for those costs.
In some cases, parents decide to split the cost of college equally, agreeing on a maximum yearly cost that they will pay. In other cases, the parents plan for one spouse to pay all of the college tuition costs, while the other parent assumes the cost of paying for living expenses, including food, rent, and other similar budget items. In still other situations, the parents agree that the child will work to earn part of the tuition, while the parents split the remainder. Sometimes, parents agree to each spend a percentage of their particular income on college expenses each year. Truly, so many options are available, depending upon what will work best for your family.
Without question, there are many options available when it comes to choosing how you’ll address the issue of college expenses. Sometimes, it may feel hard to choose between different options or understand how paying for college after divorce will fit into the bigger picture of your divorce settlement agreement. If you feel that way, you should know that it’s normal. You should also know that help is available. Talking to an attorney who knows and understands the law and can advise you on your particular circumstances can make a tremendous difference.
The Law Office of Dustin McCrary – Always Here for You
At The Law Office of Dustin McCrary, we know that when you find yourself at the beginning of the divorce journey, you may feel overwhelmed by the number of issues you face. College expenses, child support, spousal support, property division – it might seem hard to even know where to begin, and how to take that first step. The good news is, you don’t have to figure it out alone.
We know that divorce is one of the biggest life changes that most people experience, and we understand that it can seem intimidating, even when you know it’s for the best. That’s why we’re here to help. At The Law Office of Dustin McCrary, we know and understand every aspect of divorce law, and we’ll walk with you each step of the way. Whether it’s dividing property, negotiating support, or paying for college after divorce, we’re here to advocate for your rights. A better and brighter chapter is ahead, and we’re here to help you get there. Give us a call today. We look forward to speaking with you soon.