College Expenses for Your Child

Payment of college costs is a concern of most parents, and especially those going through a divorce. Although the payment of college expenses may be negotiated in a divorce and specified in a decree of divorce, the courts do not have the ability under Texas law to order a parent to pay for college expenses for a child. Once a child graduates high school and is 18 years of age, they are no longer eligible for child support; therefore, the court cannot make orders for their support.

Student loan reform legislation was signed into law on March 30, 2010 that promises to lessen the financial burden for those applying for student loans. The law affects loans that originate beginning July 1, 2010. Besides increasing money available for the Pell grant program, the program is supposed to lower the fees charged because banks will no longer be middlemen in the process. The law also helps students with regard to paying back the loans. Monthly payments will be capped at 10 percent of discretionary income rather than 15 percent.

For additional information see: http://naicu.edu/news_room/the-student-loan-reform-bill-a-perspective