Does internship income affect FAFSA?

Paying for College
1

<p>My son is in a 5 year college program that has mandatory internships. Will the income from his job affect his FAFSA EFC if it not considred work study? His estimated income from the internship is aprox $10,000.</p>

2

<p>He will need to file a tax return and of course if he has any of the money in savings report that on his FAFSA as an asset. If he spends it all, then he doesn’t have it as an asset.</p>

3

<p>I don’t know if the mandatory internships are same as cooperative education program. However, see <a href=“https://fafsa.ed.gov/fotw1314/help/faadef46.htm”>https://fafsa.ed.gov/fotw1314/help/faadef46.htm&lt;/a&gt;

You should call FAFSA Helpline to find out.</p>

4

<p>Only income from need-based employment such as work-study is subtracted in the fafsa formula. Internships are not need-based.</p>

5

<p>

The cooperative education program also is not need-based, but it could be excluded from EFC calculation. See kelsmom’s posting in this link: <a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1054201-money-made-during-co-op-not-counted-fasfa.html”>http://talk.collegeconfidential.com/financial-aid-scholarships/1054201-money-made-during-co-op-not-counted-fasfa.html&lt;/a&gt;. Kelsmom is more authoriative than me. </p>

6

<p>Thanks for the link to the other thread…answers my questions…he is at Drexel!!</p>

7

<p>Actually, my next question is how do you report it on the FAFSA? I’ll call and find out…</p>

8

<p>OK, I figured it out. You enter the amount you earned in a coop on line 44F of the FAFSA. Il will let him know…Thanks!</p>

9

<p>Kelsmom is more authoritative than me too. I am surprised but looking at my daughter’s current SAR I do see that question 44f asks for this.</p>

10

<p>annoyingdad-I called him and he asked me to take a look at his initial FAFSA he filed and I could not find it on his initial FAFSA printout. I went in to find the box as so I could amend and it showed up at the bottom of his income page entilted 44F Earnings from work under a Coop. After entering the amount it did lower his EFC.</p>

11

<p>Call Drexel’s financial aid office. They will be able to tell you if the job fits the definition for excludable co-op income.</p>