<p>So I just submitted the FAFSA, which got me thinking about my student contribution. I tried to find the amount I'm expected to contribute during the term, but I can't find it anywhere! I know the summer contribution figures, but the term-time employment ones are a mystery.</p>
<p>How much money do I have to contribute during the academic year? </p>
<p>Also, I have national merit-- how much does that help me (I know it'll be $2k/year for me, and it will reduce my contribution, but how much less would I have to work with it?)</p>
<p>And, any ideas about how to make working during school smoother?</p>
<p>Your term-time employment should be around $750 a quarter, and may be spent on books, personal needs, etc. If I remember correctly. Furthermore, I should not that the National Merit Scholarship is administered in one lump sum of $2500, not in yearly installments.</p>
<p>I have a couple thou in loans, but not from chicago. If I could use NMF money to pay that off, that would be amazing. Though, I will most likely be using my summer earnings to pay off loans.</p>
<p>Really? Only $750/quarter. That’s manageable. I would be on a $0 EFC plan, though. So, the only money I would pay would be the student contribution. Don’t I have to contribute my term-time earnings towards my tuition/room and board? Or, does the term-time employment money cover the ~$3k estimated personal expenses?</p>
<p>Sorry about the confusion on the scholarship.</p>
<p>Yes, effectually, the t-t employment funds may be spent on personal expenses. It is YOUR money. You earn it, and it goes into your bank account; the college does not monitor how it is spent. The important feature of work-study is that you show initiative in your own financial well-being by getting a job, doing the work, and earning the money. You can spend the money as irresponsibly as you like, or you can save every penny. The choice is yours.</p>