Hello All,
I am new here and I wanted to ask a question. What is the FAFSA Limit for a student who works outside of school? What I mean by this is that, a student who doesn’t work at the school but rather outside of a school (this could be a retail shop, restaurant, etc.). Another example would be, a student works some, some hours and makes this much. Is there a limit to how much a student can make to not have his FAFSA aid discontinued?
Sample Student Wage/hrs
Wage: 9.47
Hours/M: 108hrs
Over that $6,310 amount, I think 50% of income counts toward student EFC, but first of all it depends if student is dependent on parents for FAFSA purposes and what the parent income is.
If you were talking about a job at college, if it is income from a federal work study job, then it is not counted for next year’s FAFSA.
@mommdc <<<Over that $6,310 amount, I think 50% of income counts toward student EFC, but first of all it depends if student is dependent on parents for FAFSA purposes and what the parent income is.<<<
I think you’re confusing income with savings. If the student has that money in savings then a high % will go towards EFC.
http://www.ohe.state.mn.us/mPg.cfm?pageID=1334
See above link under heading “Available income” below “Example”
No it’s my understanding that after the student income protection amount of $6,310 the student’s income will be assessed at 50% towards student EFC. But if parent makes under $24,000 and qualifies for auto zero EFC it is my understanding that student income then is disregarded.
From the link in post #1:
50% of income above the allowances (which will be higher than the $6310 which does not include federal income tax paid, state tax allowance and social security tax allowance).
@Erin’s Dad, thanks I did not know that there was an allowance for taxes paid by the student.
Hello Everyone,
Appreciate the response. However I am still confused with what I was trying to ask. So the thing is (in example format). Student A goes to “Some Kind Of Community College” however he does not work at the school, but works outside of the school like a retail shop of some sort. He also receives Financial Aid every quarter.
Student A makes about $9.47/hr and works a total of 108hrs/M. So roughly he makes about $850 or some dollars each month. Shall this student be worried about not receiving aid because of the amount he makes at work? He also does not get paid cash but in checks or direct deposit and pays taxes.
So I guess the big question is, is there a limit to how much he can make to continue receiving funds? Please let me know. Thanks.
You can earn up to $6300 before it affects your aid.
Like I said it depends on if you are dependent or independent student for FAFSA, if dependent your parent income might be low enough for your income not to matter (if auto zero efc). Also like Erin’s dad said there is an allowance of $6,310 plus taxes paid before any of student’s income gets assessed towards EFC.
Also like I said if you have a federal work study job, the income from that does not get counted towards student income for FAFSA. But if it is off campus retail job it doesn’t sound like this is the case.
The EFC of a dependent student depends first on parent income and assets, then student income and assets, with some special exceptions.
Are you a dependent student? Is your parent’s income low?
@mommdc I am an independent student. Long time ago I was dependent. I also work outside of school in like a department store of sorts.