<p>Hello this is my first time posting on CC this year. I currently am attending a community college full time while working part time. My EFC is 0 so I get the maximum amount possible ($2775 each semester) of Pell Grants from Uncle Sam. However starting in 2012 I started working part time and for the 2013-2014 Fasfa will have to claim my earnings. I'm just wondering whether it is worth it to continue working since I've read recently Maximize</a> financial aid while keeping your summer job: The FAFSA income allowance that any student earnings over $6000 may add to their EFC thereby potentially lessening their received aid. </p>
<p>Here is some more information:
-My estimated cost of attendance is $9800
-I qualify for work study to make up for the $4250
-I work as a delivery boy for Jimmy Johns (crappy job) and my tips have been making my income look larger than it really is when you minus gas/ car repair and maintenance (from destroying your car).</p>
<p>Oh I’m not doing work study. I also haven’t made over $6000. I guess a better question would be If I’m not doing work study will outside work totaling over $6000 affect my aid. Since I know my estimated cost of attendance is 9800 but they’re only giving me 5500 do I have cushion room to make more than $6000 a year without affecting aid?</p>
<p>It could affect your aid. It depends on how you have an EFC of zero. If you qualify under the automatic zero EFC, it may not matter. Otherwise, yes, it could as half your income over $6K could be added to the EFC. It isn’t as simple as that, however, which is why I am saying “could” rather than “would”. You may have to file taxes and how things look on the tax return could make some difference. The basic formula is half your income as reported on a certain line of your tax return goes towards your EFC. But that is “basic”.</p>
<p>Your $5500 PELL grant is the maximum amount and is based on a zero EFC. You can’t get anymore than that from PELL regardless what your COA is. THat is the max. And it will go down as your EFC goes up even if the COA is high. It has nothing to do with your COA expept if your COA should be less than your grant. It appears as though your school is meeting your other aid through work study. My suggestion is to use the work study instead of your job if you find yourself earning close to the $6000 point in a year because the work study pay will not affect your EFC but your outside work can.</p>
<p>Work study monies are entered into the FAFSA EFC formula and subtracted out of income available for EFC. So, it behooves you to have work study vs a random job. You MIGHT be able to get your school to apply the work study award to that job, there would be many hoops through which to jump, if they would even consider it</p>
<p>lets say I make $9000 a year (Jimmy Johns) and do not do work study. Do you think I’d still get about the same amount in Pell Grants since half of $9000 is close to the $4250 they would have allowed me to make with work study?</p>
<p>No. At 9k in regular money, not ws, your pell is going down as your efc will go up unless you qualify for auto zero efc. Your income doesn’t go towards your efc only of it was an actual ws job. Jimmy john’s is not a ws job and therefore all of your income will count.</p>