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Who pays for college after a Kentucky divorce?

On Behalf of | May 18, 2021 | Divorce

Once you remove emotions from the equation, a Kentucky divorce involves dividing up assets and debts and otherwise getting ready to move forward with life without one another. You may concentrate much of your attention on figuring out what to do with current assets and debts. However, you may also want to consider how you and your child’s other parent plan to pay for your child’s higher education.

While some states have rules in place dictating each parent’s responsibilities when it comes to paying for college, Kentucky is not currently among them. It is unlikely that a judge is going to order one parent, or both parents, to pay for college in a Kentucky divorce unless there is an existing agreement in place. So, what might you want to do if figuring out how to pay for your child’s college is a priority?

Start negotiations early

If you want to make sure your child’s other parent is going to pay his or her fair share of your child’s higher education, address this before finalizing your divorce. Determine who is going to be responsible for what percentage of college expenses, considering expenditures that might include tuition, housing, books and so on. You may also want to address whether the other parent should make his or her contribution to your child’s college over time or in a lump-sum payment, among other considerations.

Estimate when necessary

You may not be able to pinpoint exactly how much your child’s college may cost you. This may prove especially true if your child is young and college is a long way off. Even so, it is better to estimate costs and work through these matters now as opposed to trying to do so once your marriage is over.

The more efforts you make now to prioritize your child’s future, the better the chances that he or she has everything necessary to succeed in college.