<p>So I recently got admitted into a top 20 school with a generous need based financial aid package, but I was thinking about getting a job tutoring or something so that I would have spending money for the remainder of High School.</p>
<p>How much income would be shielded from the determinations of need-based financial aid? If they take 60% of my income and deduct it from my need based financial aid, it seems like it would not be as worth it to get a legitimate job. I saw somewhere that an annual income up to $6000 or so is shielded from deductions in the FAFSA but would the same thing apply to the CSS profile?</p>
<p>The first $5k or so won’t hurt your EFC. However, if you have money SAVED on the day you file for aid, THAT can hurt you. So, be sure to use any savings to pay for various stuff before you file.</p>
<p>However, if the “savings” is from FA, then it gets subtracted out.</p>
<p>Yes, I think you should consider taking a job. Even at schools with the most generous financial aid policies, there are start up cost associated with going to college.</p>
<p>Does your school meet 100% demonstrated need?
Is there a student contribution? do you have the $ to meet your student contribution
Will you have to travel to get to your campus?
Do you have everything you need to set up a dorm?
Having a job can get you the $$ that you need to make a dent in all of these things. In addition, you will most likely apply for work study when you get to school (having work experience does help in your getting an on campus/off campus job).</p>
<p>Personally, I don’t see a downside to getting a job.</p>
<p>^^^</p>
<p>I agree. Which is why I think both FAFSA and CSS should shield some savings for students. While $5k-6k of income is shielded, currently none of savings is. That just encourages reckless spending and discourages saving. Each student should be able to have at least $2500 saved that is shielded because each kid could suddenly have a big expense (car repair, broken computer, etc) and need some quick cash access. </p>