Thinking of remarrying while your kids are planning for college? They could lose aid eligibility. That's because when you apply for federal financial aid, the government demands you include a stepparent's salary on the forms, even though they have no legal responsibility to their stepchildren.

What if you live together? The aid forms ask the student about the income and assets of the custodial parent, if the parent is married, and if so it asks about the spouse's financial picture. If you live in a common law state and you have been living together long enough for your relationship to qualify as a common law marriage, your significant other will be counted as a step-parent.