<p>I am a dependent student going to the University of Houston. I got a job a couple of months ago and it is my first one ever. I get financial aid and I currently have an EFC of 0 and was wondering if my own personal wages will end up affecting how much I will end up getting, like will it cause my EFC to go up?</p>
<p>It depends.</p>
<p>If you have the automatic 0 EFC (parent income <$31,000 and they meet one of the other criteria) then, whatever your income is, it will have no impact on your FAFSA EFC.</p>
<p>If you have 0 EFC but it is not automatic (parent income is over $31k), then your income will affect your EFC if it is over the protected student income limit (around $5500 - not sure the exact figure, plus allowances for any tax or FICA paid). In that case, 50% of any income over the protected limit would go to the EFC.</p>
<p>This is based on current rules.</p>
<p>do you know where I can find out where the other criteria are besides my parents earning less than 31k a year?</p>
<p>Xiu…how much do you think you’ll earn for 2011 with this job?</p>
<p>BTW…Work study earnings won’t affect EFC, so if you get a WS job in the fall, you’re fine.</p>
<p>depending on how much I work as much as 10k or as little as 5k. It isn’t a work study job, it is a regular job.</p>
<p>In my family one parent doesn’t work, though she gets checks from the government, and my other parent only makes around 15k.</p>
<p>The other criteria are that the parents are eligible to file a 1040a or ez or are not required to file a return or anyone included in the parents’ household size (as defined on the FAFSA) received benefits during 2009 or 2010 (for the current FAFSA) from any of the designated means-tested Federal benefit programs: the Supplemental Security Income (SSI) Program, the Food Stamp Program, the Free and Reduced Price School Lunch Program, the Temporary Assistance for Needy Families (TANF) Program, and the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC);or one of the parents is a dislocated worker.</p>
<p>and the parent AGI must be <$31k</p>
<p>The income allowance for a student for this year was $5250.</p>
<p>depending on how much I work as much as 10k or as little as 5k</p>
<p>Well, I think you’d be working too much if you earned $10k by the end of December…it could affect your grades. You’d be earning over $1000 per month to earn $10k by Dec 31. It’s hard to earn that much while going to school.</p>
<p>So…the first 5250 that you earn is fine…after that, I’m not sure of the exact number, but about 50% will go towards EFC…so not a good idea because then you could be losing Pell (if your family doesn’t qualify for AUTO 0 ).</p>
<p>Can you ask your school for work study? Then you could cut back on this job’s hours (after $5k) and do work study during the school year.</p>
<p>And…if you don’t qualify for Auto 0, then any savings you have in YOUR (the student’s) bank acct will hurt FAFSA. Your parents’ savings is exempt for the first 40k or so.</p>
<p>is 5250 the exact mount I can make with in the fiscal year and it still not count towards the EFC? Also is the before or after taxes are taken out of my paycheck.</p>
<p>Okay so I just found and article that kind of answers my question, but I have a couple of questions as well. It states that </p>
<p>“For the 2011-2012 academic year, the FAFSAs income protection for dependent undergraduate students is $5,250 and will rise to $6,000 for the 2012-2013 academic year.
So if you are starting college this fall, its too late to adjust any earnings from the 2010 tax year, however Summer 2011 earnings will impact the 2012-2013 academic year FAFSA.”</p>
<p>I started my job March 2011, so what I earn from March 2011 til December 31,2011 will be counted towards my fafsa application for the school year starting Fall 2012 right, thats if I even make that much because right now I want to really concentrate on school but I do need to make some money to fund tuition? So if my understanding is correct does that mean I can earn up to 6,000 (once again is this amount before or after taxes?) through this 2011 year and still have a EFC of 0 for my fafsa application for the school year starting Fall 2012?</p>
<p>Also if anyone was wondering this was the article that I am referencing.
[Maximize</a> financial aid while keeping your summer job: The FAFSA income allowance](<a href=“http://www.custudentloans.org/2011/07/11/maximize-financial-aid-while-keeping-your-summer-job-the-fafsa-income-allowance/]Maximize”>http://www.custudentloans.org/2011/07/11/maximize-financial-aid-while-keeping-your-summer-job-the-fafsa-income-allowance/)</p>
<p>$5250 was the income allowance for the 2011-2012 FAFSA. It may change for next year. It is the adjusted gross income from your tax return (basiclally before tax). There will also be some small additional allowances agains your income for FICA taxes, state taxes (if any) and federal taxes. The FICA and state will be allowances calculated by the EFC formula based on information you enter in FAFSA (income from work, state of residence). The federal will be your actual taxes. These will not be the taxes they are currently deducting, but the actual amount of your tax liability for the year, if any.</p>
<p>what i am earning now will effect the fasfa that i will fill out when i start school fall 2012 right? I hope so because if it is really going up to 6000 that would really be beneficial to me.</p>