<p>About the ivies/top schools in general...</p>
<p>If you make money over the summer or if you earn more than expected on work study, does your grant money or family contribution decrease? </p>
<p>Does the financial aid stay the same over the four years? Or does the grant increase or uh oh decrease in subsequent years!</p>
<p>THANKS A FEW BUNCHES!</p>
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If you make money over the summer or if you earn more than expected on work study, does your grant money or family contribution decrease?
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You cannot earn more than the work study award as work study. Sometimes an employer may wish to have you continue working for them - once the WS award is exhausted any income is then regular income. WS earnings will not affect your EFC. For FAFSA EFC for non-work study earnings there is an income protection allowance of $3080 for dependent students - it actually works out a little higher with allowances for taxes etc.</p>
<p>And yes you have to refile for financial aid every year so changes in financial information may lead to changes in your aid package.</p>
<p>In our experience, you would have to make a bunch of money to significantly affect your award. FA changes VERY little every year unless you have a significant income change (at least at Harvard). This year could be very different considering Harvard's new FA policy for incomes under $180K. And remember, most privates are Profile schools, not FAFSA. FAFSA controls Federally funded workstudy grants, but not need based awards at Ivies.</p>