<p>So I was thinking of getting a job during summer break (not under the counter), but my friend pointed out that the taxes I paid in that may lower the amount of financial aid I get (which I really need).</p>
<p>Will this happen?</p>
<p>I will be a first year student at UCLA.</p>
<p>Not unless you make over $6000 in the calendar year if you are a dependent, and make sure you don’t have an account flush with funds the day you fill out FAFSA since 20% of all assets that are not financial aid monies gets directly hit onto the EFC. Many students reimburse their parents for expenses and let the parents open an account in the parents name and SSN with the student secondary so such money is a parental asst and under the protection allowance and hit only 5.6% towards EFC. Or if you have excess fin aid, put it into the savings account and hit that up last, spending your summer work money and other such funds first since you don’t have to report fin aid money sitting there.</p>