<p>I suggest going to the library, or a bookstore and looking at some books regarding financial planning for college. "Taming the Tuition Tiger" is a very readable one with a small but directed section on the student's contribution. The rules for students are ornerous, unfortunately. A student is assessed a hefy percentage of his earnings in addition to the 35% by federal methodology on whatever he saves. Schools will use their own formulas at times on the student's money, but it is hit up at amounts exceeding family income and savings which makes perfect sense, but as I mentioned earlier, what is happening is that people are planning around it--legally. This same phenomonon is occurring for medicare or total care numbers where families "spend down" accounts to avoid bankrupting one family member because of the needs of another. Yes, there are abuses occurring as well. But the fact of the matter is that with planning and resourcefullness there are legal ways to plan to get the most out of financial aid.</p>