My first year so I’m in the limbo.
I started to work but not sure if that will affect my financial year for next year 2019. I didn’t earn much about $800.00 (feb 2018). How much can is a student make before he is disqualified? My parents make about $57,000 but here are 6 living at home. Wanted so bad to make extra money for myself.
It’s fine to earn money. You would need to earn a lot for it to affect your aid…like over $6000 a year…although I’m sort of unclear about how,the new tax law affects this.
I think the income protection allowance for a FAFSA dependent student was $6,570 for the 2018/19 year.
Also federal, state and soc sec taxes paid on the income are subtracted before the income is assessed towards FAFSA EFC.
Anything more than that we be assessed 50% towards FAFSA EFC.
Your income from 2018 won’t be reported until the 2020/21 FAFSA and the formula might change by then.
Thank you !!!
Thank you sooo much