<p>Say for example that a student replaces work study and self help with outside scholarship awards. How much can the student earn during the year (summer work)and not have it counted towards EFC? This would happen in a case where the student was trying to help pay down the EFC and not have the school aid reduced. Thanks!</p>
<p>I don’t think there is a specific student income protection under the IM. Each school uses the numbers provided in their own way. You would probably have to ask the school in question.</p>
<p>For FAFSA the protected student income is $3080 then 50% goes to the EFC. I don’t think the IM has anything that concrete. I may be wrong.</p>
<p>Out of curiosity I ran some numbers through the IM EFC calculator on finaid. It showed the same income protection as for the FM. But with a student income of $3000 it showed a student contribution of $1000. With a student income of $10,000 it showed a student contribution of a little over $3000 (which would be the same as for FAFSA - the 10K less the protected income allowance less taxes etc times 50%.). Probably best to ask the school.</p>
<p>Thanks for looking at this.<br>
From what I can tell it will be 25% of earnings and 50% of assets.
I will call the school. I hope it is better than this. If the student is using the earnings throughout the year for the EFC, there should not be much left to be counted for assets.</p>