A study published in Sociological Science found that divorce could have a significant impact on a white child’s education. Specifically, it found that the loss of household income that generally occurs after a couple splits makes it less likely that their children will go to college. However, the same study found that the impact wasn’t as great on minority children in Ohio and elsewhere. This is because minority families may not have the same level of wealth prior to divorce taking place.
Research has discovered that a lack of economic stability may play a role in a couple getting divorced. This can be especially true if the husband is not the primary breadwinner in the household. Of course, the study did note that the fact that a man has a stable job is more important than how much he actually makes.
There may be a variety of consequences to a person’s credit score and history after a divorce. For instance, a spouse may fail to pay a joint debt as required in a divorce decree. In such a scenario, both parties to the debt could see their credit scores reduced. Women may also be victims of a gender wage gap that causes them to earn less than their male colleagues for doing similar work.
When a couple gets divorced, both parties may be required to contribute to their child’s college education. This may be true even if a child will have reached the age of majority by the time he or she starts college. However, parents are generally only required to provide what they can afford to spend without creating financial hardship. An attorney may explain a person’s financial responsibilities to his or her child and what may happen if they aren’t met.