<p>I didn't do any work last summer, so my personal estimated contribution is nearly 0, and my total EFC is quite low. My question is: would it be better to not work this summer?
My thinking here is that if I do, I am essentially pledging myself to pay that much extra (in addition to my current EFC) next year, thus depleting the nice financial aid offer at my university of choice. Any thought?</p>
<p>Depends on whether you're in a school that uses FAFSA or Profile, and how much you work.</p>
<p>FAFSA allows student income up to $2600 before your income starts increasing your EFC. Fed work study income doesn't count at all.</p>
<p>Profile doesn't have a student income allowance, but does have a minimum student contribution to the EFC.</p>
<p>I'm guessing that since you said that your personal estimated contribution was nearly 0, that you're at a FAFSA school. So work up to about $2600 per calendar year shouldn't hurt you.</p>
<p>Use the FinAid calculator and try various numbers to see how it impacts EFC.</p>
<p>No matter what you do, you will make more money than you have to pay out - because they are only going to look at a percentage of the income. So if your goal is just to get the most free money as possible -- don't work. If your goal is to improve your financial situation -- work.</p>
<p>My biggest concern is that since whatever work I do this summer would count toward my EFC next year, I am essentially committed to working for at least that percentage next year, which I don't really want to do.
Also, my student EFC is automatically $1500 this year, so does that mean the school is using the Profile?</p>
<p>Your EFC is nearly 0, but your school doesn't include any loans as part of its financial aid offer? That's a sweet deal.</p>
<p>But if you work, they aren't going to ask for your whole income or even half of it anyways. I'd get a job. It will give you some extra money.</p>