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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 07-04-2011, 09:27 AM
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Default How to calculate interest?

I'm going to take my ex to court for his share of the kids university tuition.

I'm trying to do this with minimal legal fees, which means doing up the forms.

I think I see HOW it's calculated on Judgment Interest Calculator: Pre-judgment, Post-judgment, Rent Loss Calculations for Ontario

This calculation is pretty torturous, and there are many bills over several years and two kids involved.

Is there a spreadsheet macro or something someone has with the pre judgement rates where you can just plug in the dates & amounts & it will calculate it for you?

Thanks in advance.
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Old 07-04-2011, 06:40 PM
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A "fair" amount is very very easy to figure out. Keep in mind the child should be contributing towards their own education, and should be applying for any scholarships, bursaries, etc, as well as for student loans.

Was it out of province/town university? Or did they stay at home while attending to cut down on costs?

Basic math: Tuition + Books (@60% of new, buy them used) + lab fees + student fees (all of which are readily available from the school) + Least Expensive Residence Option(if applicable) + Least Expensive Meal Plan (if applicable) + 2 trips home/year at the least expensive public transportation method (likely bus) (if applicable).

Total that up, now subtract anything like grants/bursaries/RRSPs and Student Loans.

Is there anything left over? If yes, then divide the remainder by 3.

1/3 is the responsibility of the child, via work, savings, etc.

The remaining 2/3 is split proportional to income between yourself and your ex, just like any other special expense. Simply do that each year.

Getting the ex to pony up his share might be more difficult, but that is a fair, reasonable offer. If he refuses, haul him into court. Even if the child needs to get extra student loan amounts, the ex can be made to pay off a portion of it. (Keeping in mind that court actions can take months if not years to get a final decision on)
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Old 07-05-2011, 10:45 AM
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Thanks but that's not what I'm asking. I want to know how to calculate the interest on arrears, per this website; Judgment Interest Calculator: Pre-judgment, Post-judgment, Rent Loss Calculations for Ontario

As fair as "fair" is concerned, his position is that zero is fair. I disagree.
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