<p>will having a summer job and a workstudy job significantly affect my parent's EFC?</p>
<p>is it worth it to have both?</p>
<p>The work study job will not affect the EFC at all. That is the point of a WS job. It is taxable income and will be included in you AGI (assuming you earn enough to be required to file a return) but is reported on one of the worksheets on FAFSA and is deducted by the EFC formula before the EFC is calculated.</p>
<p>For other income the first $3080 (for 2008-2009 - it changes most years) is protected income for FAFSA. It is actually a little higher than $3080 with allowances for taxes. After that 50% goes to the EFC.</p>
<p>So yes it absolutely is worth it.</p>