Hi all! I am looking for someone to give me some more information about the details of my financial aid package, specifically my work study. Last year I was awarded 2500 for work study and accepted it, however I ended up getting a better paying job off campus, so I never touched the money. Despite not touching the funds, I didn’t need to take out more loans to cover the missing 2 grand that had been apart of my initial aid. This year however, I was awarded about 3200 and just like last year it is added into my total package, but what I’m wondering is being that I have a job already which pays much better than any on campus job would, should I just decline the award? But if I decline it, will I need to take out more in loans? I just don’t understand how last year I was just fine not touching the money, but by the looks of it now, without the work study money I will be short on paying my tuition? Which also doesn’t make sense considering tuition is billed way before I would earn the total 3000. Someone please help!! I am so lost!!
The only thing turning down WS will do is perhaps enable you to take out more in loans. It really depends on if you are already at the max.
The max ALL your financial aid can be is the COA at your school. However, there are max amounts for loans too, so if you are already at the max, turning down WS doesn’t change anything. If you need more this year, it’s probably because costs (tuition, fees) have gone up, or perhaps other aid in your package went down (a Pell grant? SEOG? school aid?). If you turn down WS you might, and it’s a big might, get more in school aid if they have it.
But if you don’t need or want the WS, do turn it down. The school only has so much to award and other students do want those jobs.