Divorce can have long-term financial consequences for both the spouses and the children of divorce. Recently, researchers from the University of Wisconsin and Rice University compared how much divorced parents contributed to the college education with the amount contributed by parents who remained married. They found that divorce significantly influences how much parents are able to contribute to their children’s college education.
The study published in the December issue of the Journal of Family Issues analyzed a sample of 2,400 parent and student interviews from the National Postsecondary Student Aid Study. It analyzed the financial contributions made to a college education by three groups of parents: parents who were married, divorced parents, and parents who had divorced and remarried.
According to the study, married parents contributed about eight percent of their income to their children’s college education and met 77 percent of their children’s college-related financial needs. Divorced parents, on average, contributed about 6 percent of their income and met only 42 percent of their children’s financial needs. Remarried parents contributed 5 percent of their income and met 53 percent of their children’s needs.
The researchers pointed out that the income of divorced parents was substantially lower on average than parents who remain married. Furthermore, parents who remarried had similar incomes to parents who never divorced. However, remarried parents contributed a small percentage of their income to their children’s college education. The researchers believe that remarried parents contribute less than parents who remained married due to additional obligations, such as the costs of contributing to a second family.
This study is one of the first of its kind in that it analyzed the way divorce effects the way a parent can contribute to college education. From a family law perspective, it highlights an often-overlooked aspect of divorce. Who pays for the college education for the kids?
Many divorcing couples do not reach an agreement on how their children’s higher education will be financed. Although a Wisconsin court typically cannot extend child support beyond the age of 19, there are options available to provide for higher education. Divorcing parents can elect to include college tuition in their divorce decree or marital settlement agreement.
Sources:
The New York Times, “The Financial Impact of Divorce on College Students,” Jennifer Saranow Schultz, 12/15/2010
Rice University, Journal of Family Issues, “Contributions to College Costs by Married, Divorced, and Remarried Parents,” Ruth Lopez Turley and Matthew Desmond, 12/2010
