<p>What is the point of having an internship over the summer to help pay for college if this money is counted as income, so your financial aid package will be lowered for the next year since you made so much money over the summer? Your need would be less. So why work?</p>
<p>Maybe because you want to advance your life. Why work when you can get welfare????</p>
<p>^ well said.</p>
<p>don't look at internship as a way to make money. View it as a paid learning opportunity.</p>
<p>But for students who NEED the money and don't want less financial need, there is no benefit. Right?</p>
<p>^ The first 2250 or so doesn't affect your financial aid. After that, it reduces it by only 50 cents on the dollar. So say you earn $3600, you will come out about $2900 ahead. Internships are also a great way to build a resume and contacts for after graduation.</p>
<p>as suze said...why study and work? go on welfare.</p>
<p>If you're going to a school and have no need-based grants, any job is a good way of paying for college.</p>
<p>Student x watches tv over the summer, so as not to jeopardize his financial aid.
Student y gets an intership, earns money which reduces his aid. So he uses his income from work to pay for school.
Student y also gets real world experience in his chosen work area and possibly a job prospect after school
Student x gets fat from sitting on the sofa eating cheetos.
After graduating from college,student x and y compete for a grad school spot. They both get admitted but student y gets a full ride because of his internship experience. Student x has to get some loans to pay but he doesn't mind because at least he didn't get his aid reduced when he was an undergrad.</p>
<p>One day you will go out to get a job and an internship can be a great stepping stone to full time employement.</p>
<p>
[quote]
The first 2250 or so doesn't affect your financial aid. After that, it reduces it by only 50 cents on the dollar. So say you earn $3600, you will come out about $2900 ahead.
[/quote]
</p>
<p>Using your example:</p>
<p>3600-2250 = 1350</p>
<p>1350*.50= 675 (the amount that your EFC will go up).</p>
<p>oh snaps i never knew that only over 2250 counted towards EFC, cuz im gonna get an internship this summer and i wont make 2250 so my FA is safe :)</p>
<p>Is it just last year's taxes that they go off?</p>
<p>And they don't count W/S towards the EFC? Can that be confirmed?</p>
<p>I think i'm safe. Last year I didn't make even 1K, and this year I don't think i'm going to make more than 2250.</p>
<p>work study is not calculated.</p>
<p>Riddle me this, You would pass on making making $3600 because you would have to contribute 650 to pay for college. You would still have $2850 left over. Hope you are not an econ or finance major :(</p>
<p>Ya, but what sucks even worse is making close to 8 grand a year when your in high school to help pay for house bills, thus not saving or spending it on yourself, and then it comes to bite you when you apply for aid, increasing your efc from 5700 (mom's contribution) to 8000 due to how much you work.</p>
<p>Explain that to your school. The financial aid office will definitely take that kind of stuff into account.</p>
<p>
[quote]
Ya, but what sucks even worse is making close to 8 grand a year when your in high school to help pay for house bills, thus not saving or spending it on yourself, and then it comes to bite you when you apply for aid, increasing your efc from 5700 (mom's contribution) to 8000 due to how much you work.
[/quote]
</p>
<p>Okay you made 8K and your EFC went up $2300. You are still way ahead of the game. The school is going to expect you to be an active participant in the financing of your education. Some schools have minimum student contributions in place regardless of the amount of money you make (or don't make).</p>
<p>Sybbie719,</p>
<p>I am fine with the idea that students must be an active particpant in financing their education.However, what irks me is seeing friends of mine, who's family contribution is rougly the same as mine (~5700), and their student contribution ranging from ~500 - 800, recieve a very generous financial aid package from the same school I will be attending. </p>
<p>The only difference between us is I work 25+ hours a week.</p>
<p>so the difference between them and you is $1,500. You made $8,000 they made zero. You are still ahead by $6,500.</p>
<p>mm...not so much, let's see he was awarded 5500 in grants, I was awarded 0. On top of that, the "6500" I'm suppose to have was spent on family expenses. So using your "net" concept, I guess I'm only up by 1000. However, let's take into account the amounts of hours I had to work to earn the 8000 but really came out to be only 1000. If ya divide the amoutn of hours I worked with my net earnings, it will be below the minium wage in ANY state.</p>
<p>Live on a few more days and you will find that life is about making choices. We all have free will to make choices just be prepared to take responsibility and accountability for your choices and the consequences that come with the choices you make. </p>
<p>If you feel that it is more important to get extra grant money than it is to help your family, then don't work.The choice is yours. Right now it is a blessing that the work you do is helping your family (be happy that you are in a postition to do so). It's a small price to pay for the greater good. </p>
<p>Be careful for what you ask for because you just may get it. IF you are living on campus during the school year, you won't be in a position to work afterschool and help your family during the school year.</p>
<p>the other kid also may have a much lower assets/larger family than your family. Fin Aid to most extent is numbers driven. The process does not single out aMeng and decides let us give less grant to this person for the fun of it.</p>