Divorce complicates paying for college

With college costs rising rapidly, paying for an education can be expensive in the best of circumstances. But a divorce can make this difficult task even more difficult. Splitting one household in two results in higher expenses for both parents, leaving less money for college. The best solution is good planning: investing in a 529 plan, and exploring any available scholarships or grants. However, previous plans may have to change if an unexpected divorce alters the family’s financial picture.

Steve Trojan is a CPA in Colorado and a Certified Divorce Financial Analyst. He owns Flatiron Advisors Tax and Accounting and also has the website Smarter Divorce Planning.

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