If parent's income rises, will financial aid be taken away?

<p>Sue: I'm not talking directly about your situation. I firmly believe that life style is more important than making more money. Which is why I was a stay at home mom while my kids were little and worked part time until they graduated high school. </p>

<p>But I think poeple are getting the impression that it doesn't pay to make more money because you lose financial aid. For example, people constantly bring up the $3000 income protection amount for students as if they should never make more than that because it would take away from their financial aid award. Or that they shouldn't save their money. But if a student works hard and saves money, they will not lose more than they save. They might get less financial aid, but they will be more able to pay their own way. In the end, they will be financially better off.</p>

<p>I agree that it usually makes sense to make more money ... especially if the financial aid that is impacted is mostly in the form of loans or work study, anyway. However, it is really important for some people to take a look at how the extra money they might earn will impact their financial aid. </p>

<p>I don't advocate passing up self-help for a handout. I do, however, advocate knowing how the extra money will truly impact your particular situation. You don't want to find out next May that you can't afford tuition even though you thought your new salary would be enough to cover it. Trust those of us who say that you "could" be surprised by the changes in your aid package. You might not, either. The point is, educate yourself so you don't end up paddle-less in the proverbial creek.</p>