<p>Hello. This may have been asked before but I was wondering how much can I make from a summer job before EFC starts climbing? Thank you.</p>
<p>For FAFSA $3000 (in reality it is a little over - @ $3200 - that with allowances for deductions like FICA) of student income is protected from the EFC formula then 50% of income over that goes to the EFC. But remember you will still have the other 50% so you are still better off even if you go over the protected allowane.</p>
<p>The federal work study money doesn't count as income on the FAFSA, does it? I made a little over $3000 this summer (all of it is going toward my college education anyway) and I will make $4000 from work study. Does this mean my FAFSA will most likely stay the same next year?</p>
<p>No federal WS does not affect your EFC on FAFSA. When you complete FAFSA next year the WS income will be included as part of your income then you deduct it on worksheet C (student aid included in AGI).</p>
<p>If everything else has stayed the same (parents income and assets, your assets etc, number of family members in college etc) then your FAFSA EFC should stay the same. Any changes will change the EFC. </p>
<p>Any of your summer earnings that are still in your possession on the date you file FAFSA will increase your EFC (20% of student assets go to the EFC) so make sure you pay any college expenses before you file FAFSA rather than after.</p>
<p>But remember too that your summer earnings are anticipated to be part of your EFC, so if you don't earn that amount, you're going to have to come up with it anyway.</p>