<p>I am planning to get a job this summer to help pay for college expenses for Fall 2013. The time I will work will be from May to July. Will the money I make during this time affect my financial aid package? Are colleges likely to subtract aid if I work for a temporary job that I will quit when I leave for college?</p>
<p>You are expected to earn some money to help pay your way. You aid for your first year is set. You aid for the next year will be set about a year from now, after you submit the FAFSA again. That FAFSA will include the income you earn this summer. If you only work during the summer, you aren’t likely to earn enough to impact your aid package at all. If you work all summer, and continue during the school year, your EFC might be reduced some, but it won’t be dollar for dollar. You’re better off with the income, so go get that job… if you can find one!</p>
<p>Getting a job is a great idea. You would have to earn over $6,000 before it even affects the EFC. </p>
<p>The extra income will come in very handy for books and other personal expenses.</p>
<p>I think CTScoutmum meant your EFC might be increased some.</p>
<p>But, as others have said, a summer job should not make a difference to your next year’s EFC. A dependent student has around $6,000 in income protection before their income will be taken into account. After that, 50% of income over the protected amount will go to the EFC. Also 20% of student assets as of the day you file FAFSA will go to your EFC.</p>
<p>Since it doesn’t sound like you’d be earning more than $6k, no problem. Just don’t have that money sitting in savings when you file FAFSA next year. </p>
<p>If you were to earn $7000, then only $1000 would affect FAFSA, but at 50% ($500). It’s doubtful that you’d earn that much.</p>
<p>AND, if you have work study during the school year, that income won’t count towards the $6k.</p>