summer job question

Colleges and Universities A-Z Dartmouth College
1

<p>I have a question about my D's summer job.
Our family income is $50K this year. Our EFC is $5000.
Dartmouth gave us very good fin package this year:</p>

<p>Student Contribution: $2,400.00
Parent Contribution: $5,000.00
Family Contribution: $7,400.00 </p>

<p>Federal Work-Study Elig.: $2,350.00
Federal Perkins Loan/MPN: $1,250.00
Endowed Scholarship: $35,000.00
Total: $46K</p>

<p>Now, my D has a part time job in weekend(teaching Yoga) ($500/month)
she just find another full time job in lab this summer ($8/hour)</p>

<p>In this way, she will earn more than $5000 this year.
I know ($5000-$2600) will go to our EFC, right?
How much our EFC will be (if other thing not change)?</p>

<p>I want her quit that part time job. But she likes that job very much.
Am I right?</p>

2

<p>Any money earned by the student over 2600 (not counting work study) will be assessed at the rate of 25% when calculating thier EFC in the next year.</p>

<p>so if D keeps her job, earns $5000, 2400 will be assessed at 25% ($600 toward her EFC)</p>

3

<p>Thanks
I will tell her.</p>

4

<p>


</p>

<p>is this based on financial needs?</p>

5

<p>yes, it is based on fin need.</p>

6

<p>It is based on financial need, but Endowed Scholarship versus University Scholarship is awarded more on a combination of finneed/merit. Endowed gives you a little more in the form of grants rather than loans. (From somewhere on their website and/or the letter)</p>