<p>I want to work during the summer (most likely out of state) so I can have some money saved up. It would be during this summer and I might graduate in Spring 2015. If I work during the summer will this at all affect my financial aid for the 2014-2015 school year? </p>
<p>If you work during the summer of 2014 and you have already filed your financial aid forms for the 2014-15 school year, you are good if you graduate in Spring of 2015. You’ve already gotten your award, and any earnings in 2014 is reported on the FAFSA filed January 2015 for the school year starting in Fall of 2015. You could run into an issue if you do not graduate and have to apply for financial aid for another year, but the FAFSA has an income protection allowance of $6130 for dependent students. Half of anything over that $6130 goes towards EFC. Student assets sitting in an account on the day FAFSA is filed get hit 20% directly towards EFC. This is for Dependent students.</p>
<p>Also, you would have to check out what the rules are for your school if you should be coming back for another year, as they may have their own formulas for their own aid. The above is just for FAFSA. Also if you are a 5th year student for the Fall 2015 school year, you could be running into some maximums for some of your aid. Also if you take courses in the summer, how that would be affected is something up to your school in terms of aid. </p>
<p>But whatever you make this summer will not affect your aid for the 2014-15 school year. That has already been determined by financial aid forms you have or will be filing out and the income requested is for the 2013 calendar year, not what you earn this year, for the upcoming fall 2014 school year.</p>