<p>Just wondering. First year we may only use plus loans for any parts that need financing. Will need FAFSA for latter years to take advantage of student loans. Also, thoughts on college work study first year? Good idea or is it wiser to let kid adjust to college environment? I know FAFSA is needed for work study. Also, I heard work study income is not taxable. is that right? First question is really the biggest. Thanks.</p>
<p>Yes, FAFSA is required for PLUS Loans.</p>
<p>Work study income is taxable. But students who are dependents on their parent’s return don’t have to file and won’t owe any federal tax unless total income is >$6100 for 2013. It generally goes up a little each year. State could be different. FICA and medicare are not taken out of work study income. Also work study income is asked for on fafsa so students aren’t penalized for it on subsequent fafsas. </p>
<p>You know your kid best. 8-12 hours per week as a freshman can be handled by most but some prefer not to work the first semester. Is your student good at managing time now?</p>
<p>Thanks. No, not good at managing time right now. plus we’ll likely get some shock when they get to college as it will be more challenging. a plus of working is they will have a schedule more arranged for them, which will force them to manage remaining time better. I’ll think I’ll leave it up to them. If they think they can handle work, go for it. If not, they don’t have to for first year. They will be expected to work during summers and once they can add in-semester work to everything else, I will want them to work modest hours. Thankfully, they are committed to helping pay for college.</p>
<p>Studies have shown that students with jobs have better grades than those without, possibly because they organize their time better due to their job requirements.</p>
<p>Why would you just not file the fafsa in case you are awarded some aid, and have that opportunity for work study?</p>
<p>My daughter’s college used to give a grant to W/S students for the first year to encourage them to get involved in college life. But mine decided to get a job the 2nd semester anyway. Her college had many job opportunities to get involved with professors research and she was attracted by that. 10-15 hours seems to work fine with a college schedule.</p>
<p>At one of the schools, we won’t qualify for anything but loans and the school’s FA office is supposed to be a nightmare, But I was not thinking. We need to file a FAFSA anyway because there are other schools where kid will qualify for need based aid, And having a work study option, if available at first school, never hurts. Thanks everyone.</p>