<p>How much can a student earn before they have to contribute a certain percentage of earnings towards their school cost?</p>
<p>At some schools it is more realistic to think what does a student need to contribute and then work for self beyond that sum. In my program a student will be attributed a $2500 contribution even if not working for a dime.</p>
<p>i guess what im asking about is actually how much you can earn before it affects your student contribution part on the fafsa</p>
<p>For FAFSA the student has an income protection of $3000 - over that 50% of your earnings (non work study) go towards your EFC.</p>
<p>thats exactly what i was asking, thanks.</p>
<p>swimcatsmom, so basically, if someone makes $1000 over their workstudy "need" (let's say the need is $2500), then $500 goes to the EFC? thanks.</p>
<p>Money earned in Work Study doesn't count towards that 3000 limit. that is the advantage of WS vs a 'regular' job</p>
<p>If you don't work and get assessed anyway, any school will accept an appeal and reconsider.</p>
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swimcatsmom, so basically, if someone makes $1000 over their workstudy "need" (let's say the need is $2500), then $500 goes to the EFC? thanks.
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<p>I'm not sure how you got that from what I said.
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For FAFSA the student has an income protection of $3000 - over that 50% of your earnings <a href="non%20work%20study">b</a>** go towards your EFC
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<p>As sue said work study income does not affect your EFC. When you complete FAFSA you enter your total AGI for the year from your tax return which will include any WS earnings or taxable scholarships/grants. Then any part of the AGI that is financial aid (such as work study earnings or taxable grants/scholarships) is deducted on schedule C.</p>
<p>So in your scenario if you earned $2500 at a WS job then $1000 at a non WS job the $2500 would not affect your EFC because it is WS money and the $1000 would not because it is within the protected income allowance. If you earned $2500 in a WS job and $5000 in an outside job then the $2500 would not affect your EFC because it is WS money but the amount of your outside earnings over the protected income allowance would increse your EFC by 1000
(5000 - 3000 =2000 2000 x 50% = 1000)</p>
<p>swimcatsmom, just to clarify: so however much over the need a person makes from a non-WS job, 50% of that extra goes toward the EFC? For example, the $1000 from WS does not count, but if I make $1000 over what I need from a non-WS job, then $500 of that counts against me? </p>
<p>Also, for anything over $3000, that only refers to non WS? Because let's say my financial WS need is listed as $3000, but I make $5000 from a workstudy job. Even though I made $2000 extra over my need, does or does it not work against me? </p>
<p>Thank you, and I apologize if I sound confusing.</p>
<p>"Money earned in Work Study doesn't count towards that 3000 limit. that is the advantage of WS vs a 'regular' job"</p>
<p>Basically, you can make as much as possible w/ a work-study job and still it wouldn't go on the FAFSA ?</p>
<p>
[quote]
swimcatsmom, just to clarify: so however much over the need a person makes from a non-WS job, 50% of that extra goes toward the EFC? For example, the $1000 from WS does not count, but if I make $1000 over what I need from a non-WS job, then $500 of that counts against me?
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No. The $1000 WS does not count against you because it is WS income. The $1000 non-WS does not count against you because it is below the $3000 protected income allowance (assuming there is not other income).</p>
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Because let's say my financial WS need is listed as $3000, but I make $5000 from a workstudy job. Even though I made $2000 extra over my need, does or does it not work against me?
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<p>If you have a WS award of $3000 you can only earn $3000 as work study income in a WS job (it must be a WS job - just any old job because you have WS need does not count). If you use up your $3000 award but your WS employer really likes you and decides to keep you on as an employee anything earned over the amount of the WS award is not considered WS income</p>
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Basically, you can make as much as possible w/ a work-study job and still it wouldn't go on the FAFSA ?
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You can only earn the amount of WS in your financial aid award. If you are awarded $1500 you can only earn $1500. If you are awarded $750 you can only earn $750 as WS. It does go on FAFSA in the AGI from your tax return as it is taxed like any income - then it is deducted on schedule C.</p>
<p>To summarise:
for FAFSA
1.WS income does not affect your EFC.
2.You can only earn up to your WS award as WS in a WS job. If you earn less than your WS award you lose it. If you earn over your WS award in the WS job it is not counted as work study income but as regular income.
3.You have a protected income allowance of $3000. The $3000 is nothing whatsoever to do with work study - every dependent student gets $3000 protected income allowance</p>
<p>Thanks for the clarification. I guess I'm a little bummed out to learn that we can only earn as much money as our WS states ... I guess that doesn't leave too much for spending money or else it'll count against us. Thank you for your help.</p>
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I guess that doesn't leave too much for spending money or else it'll count against us.
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Remember you can still earn the $3000 regular non WS income that is protected in the EFC formula without it effecting your EFC. So if you need more money than your WS award go get a job at MacDonalds or Starbucks or wherever is hiring. </p>
<p>My D has a work study award but is not using it because she found a non WS job that relates to her career plans. Her EFC may go up a bit but the benefits of working in a job related to her career plans are worth it.</p>