@thumper1 Yes, that’s what I was trying to say. With all due respect, you’re the one who said $3500 per semester.
I thought you were asking if you could earn your FULL $3500 in the first semester…and I was saying NO…you likely can’t do that.
Sorry for the confusion.
@thumper1 Oh, okay. I apologize as well.
Ditto-save money to pay income tax on the net unearned income.
As one who didn’t believe UWisconsin would come through for you, I am very very happy you got such a great package. Congratulations!! This is terrific. The work study award basically all goes to controllable costs so if you can earn enough money to rent books and buy notebooks and basic supplies, you’re good 
– you’ll just have to wait till your first paycheck to buy pizza
And, yes, just bring stuff from home - blankets, towels, mattress pad (that must be bought if you don’t have one), pens, calculator, laptop, etc. In short, you control costs.
Again, congratulations!!!
@Madison85 Can you explain this concept of unearned income to me, please? What qualifies as unearned income?
@MYOS1634 Thank you so much! I truly couldn’t believe my eyes when I saw it, I teared up. You’ve been incredibly helpful throughout this process.
When you do your taxes, you’ll have to pay tax as unearned income on all the scholarship amounts that exceed QEE, qualified educational expenses. QEE includes tuition, fees, and books you are required to have for classes. Also includes a computer. Save all receipts for books and computers. It doesn’t include room and board so if you get grant money for those, you’ll have to pay taxes on it at a rate called the ‘kiddie tax’ which is at your parents’ rate. It you are Pell grant eligible, your parents probably have a low income at the lowest rate.
Loans aren’t included, and work study is EARNED income
It’s not taxed at the parent rate in 2018. The 2018 tax simplification uses trust rates (likely higher for a BANNER student than parent rate.
@Madison85 Are you sure? I found a Forbes article for 2018 tax brackets that says, “all unearned income in excess of $2,100 is taxed at the child’s parent’s tax rate”.
Edit: I found an article that says the first $1050 is tax free, the second $1050 is taxed 10% (or whatever the general child rate is), and anything beyond that is taxed at the parent’s rate.
Yes, I am sure. Trump signed the new tax act 2 days ago. What’s the date of your Forbes article?
149: a tax bill was signed on Friday with all kinds of nasty surprises hidden in it under the guise of "simplifying" the tax code. What you read about a few weeks ago may not be applicable anymore.
@“Cardinal Fang” I think you know stuff about taxes or am I mistaken?