So..my ex was ordered to pay child support starting Sept 1. He hasn't missed a payment yet (although this month he's making half his payment late). But he is incredibly flakey, and I really don't feel I can depend on his child support every month.
Now I'm applying for student loans and they want to know how much child support I'll recieve during the school year. Should I put the whole amount? If my ex starts missing payments, can I call them and have them re-adjust my student loan amount?
If anyone can answer this, THANK YOU!
I dont know what province you're in because I think they are all different. I live in Ontario and have been getting OSAP for 4 years now so I know all about that system.
From my experience, since I had my kid, I always get the maximum amount of student loans possible. I live with my fiance who has a job and his whole income is included and I still get the maximum amount of student loans that you can possibly get. So, I'm thinking that your support payments arent really going to matter that much in terms of "income" throughout the year. I think the things that are more likely to bring your loan down are your savings, what you earn during the school year or in the summer (all of which are zero for me because I have either been at home with the babe or in school for the last couple of years). If you find that you aren't getting enough money in loans to last you the school year, talk to somebody at financial aid at your school and explain about your situation with support payments. From my experience, people at the school have been pretty helpful in helping me sort out my student loan crap.
Good luck!
Actually I think your best bet would be to talk to someone at the financial aid at your school before you apply. One time I had to get my loans adjusted during the school year and it was a big pain in the butt. So if your ex stops making payments mid-way through the year it could be difficult and time consuming to get them to adjust your loans. But if you are entitled to the maximum even including the support payments than it wouldnt make a difference. Here the maximum is $18000 and something, that includes tuition and living costs, and when you have a child a couple thousand doesnt have to be paid back.
Good points, thanks a lot!
it is a major pain in the ass to get them to change ANYTHING, but if they audit you and you had more income than you stated you would (they consider child support in that income section even though it technically isn't) then you will be charged with having an "overpayment." usually that means that you get less the next time you apply for loans, which can really hurt.
i'd phone and ask, i know one time i stated my daycare would be less than it actually was so i phoned to correct it and they stated that it didn't matter since i was getting the max loan amount anyways. i'd call like someone else suggested but for what its worth, i usually guesstimate on mine. which has come in handy considering bd stopped paying support years ago and it was extremely sporadic at best before he quite altogether. what a sweetheart.