on FAFSA, it asked “Are you interested in being considered for work-study?”.
So if I was offered work-study, do colleges decrease my financial aid?
Work study IS financial aid. Not all need based aid is “free money”. Some folks are awarded work study. It’s actually a win win. You get the opportunity to apply for and work at a work study job earning income…AND you get some job experience.
What is wrong with indicating you are interested in working?
I was worried that for example if they give me say 7k a year and if i do work study they’re gonna only give me 4k. What if i don’t earn the 3k difference at work study…? I can’t afford to lose even 100 bucks…
@thumper1
Work study will not effect your grants and such.
I’m currently at a CC, and my financial aid works approximately as follows.
The total cost of attendance is approximately $15,000/year. The actual tuition is closer to $4000/year, so the cost of attendance (including books, transportation, food, supplies, etc.) is considerably more than the actual tuition. Financial aid is awarded -up to- the total cost of attendance, so I can receive up to $15,000 in financial aid, even if my tuition is only $4000.
I receive the following grants
Pell Grant ~ $5700
Illinois MAP Grant ~ $1500
SEOG Grant ~ $500
total=$7700
I also get awarded work study up to $5000/year
$7700+$5000=$12,700
That leaves the amount $15,000-$12,700=$2,300 after subtracting grants and work study from the cost of attendance. That means that I could still potentially qualify for student loans up $2300.
It is an interesting question. I have never heard of someone refusing the work/study option. You always take it. I don’t think that you will ever get money to replace that if you refuse it. Rather than decreasing aid, work study increases what you can get. You are then first in line for jobs at school. Once it is awarded you don’t have to do it, though, if you can make do without. If you want to be sure you earn everything awarded, be first in line for jobs. Check the job board online even before you start school.
Wages earned through work study is not included for income when determining aid. Wages earned outside of work study is.