<p>In the Dartmouth financial aid package, there is a parent contribution and there's a student contribution (separate from work-study). What exactly is the student contribution (what if I don't have a source of income?)? Is it basically just "parent contribution" worded differently?</p>
<p>Thanks!</p>
<p>Many schools, have a required student contribution as a starting point of what has to be paid. They figure if you are smart enough to get into the school, you can figure out a way to pay for some of it. It often increases each year thereafter also, as they expect your to take increasing responsibility for your education. At schools that don’t have loans in the package, those Direct Loans can be used for some of this. A summer job, graduation gift money, etc are also sources. Of course, those with parents who can and are willing, it can just become parat of their contribution. </p>
<p>For jobs, wouldn’t I have to tax the income/report it to the IRS, thereby reporting it to the college. Wouldn’t they take that into account (reduce grant money)? Are there certain types of jobs that don’t require that I report my income to the IRS?</p>
<p>@abstentions. Answer to first question: No. If the college is expecting you come up with X amount, your grant would not be reduced if you do so. Answer to second question: That is not how the tax code works. It is not the type of job but the amount of income (this is an extreme generalization) that defines your obligation to report. Unless you are being paid in cash or in kind, taxes will probably be withheld from your pay – and you will WANT to file a tax return in order to get a refund. </p>