When you go through a divorce, you need to consider every future possibility during property division. This includes tuition payments for your children’s college.
According to College Tuition Compare, in 2020 and 2021, the average tuition cost for Texans was $6,191 for in-state students. Out-of-state students paid an average of $16,307 per semester. If you have children and want them to attend college in the future, you need to negotiate tuition payments in your divorce.
Child support does not cover tuition
First, you need to remember that child support only lasts until maturity. This is 18 years old in Texas, meaning you cannot count on child support payments for college tuition. You need to get a signed writing agreement to guarantee your spouse will help pay for college tuition or other education expenses. Do not leave anything up to chance. Use specific language that clearly defines what your spouse needs to pay in the future.
Create a payment plan
Your spouse may be more agreeable to college payments if you make a payment plan from the start. Talk to them about opening a college fund to which you both make regular contributions. In some cases, a lump sum might be more suitable for your arrangement. It does not matter what form the payments take.
If you have children, property division in a divorce is not all about you. Be prepared to make sacrifices to get what you want for your kids. Consult with an attorney about the best path forward for securing college funds for your children. It is best to prepare for the outcome you want from the outset.