Legal Question in Family Law in New Jersey
College Tuition
If the property settlement agreement states that ''the husband & wife agree to pay for the under grad, jr college, or trade school education of the children...such expenses include tuition, room, board, fees, books, etc...Each party will be responsible for these expenses of each child, after any all-then available financial aid, in proportion to their respective gross income...'' How is that portion of income determined & does that mean that the child doesn't have to contribute anything??? Thanks!
2 Answers from Attorneys
Re: College Tuition
Trying to decipher the college portion of a PSA can be very difficult. In short, the child doesn't have to pay anything out of pocket, but they do have to get any and all loans and grants. The split by the parents is either equal or the same as how other expenses are split.
My initial consultations are always free, so call me at 732/247/3340 to discuss your case.
Re: College Tuition
The gross income are added together and then the individulal incomes are divided by the gross income to calculate the individual percentages of the gross income each party earns. It is that percentage of the college expenses that each party pays.
The child is not required to contribute but can help out.
Call me if you like.
Gary Moore, Esquire
Hackensack, New Jersey
www.garymooreattorneyatlaw.com
201/602/8090
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
