Paying for College

Caught in the Middle

Family Resources

Other Part-Time Work

Studies show that college students who work a reasonable number of hours each week (10-15 hours) may do better in school than students who do not work at all or students who try to work too much. It is always best to try to get a job through the Federal Work Study program first because those earnings do NOT count in figuring the student’s financial aid for the next year. If that is not possible, however, a student should remember the following:

Be careful not to work so many hours that grades start to slip

Be careful not to earn too much money if you are receiving need-based financial aid because it may affect financial aid for the next year (see Key Tips to Remember box).

The best jobs provide experiences that develop skills and even help secure future jobs

Student Income Can Affect Financial Aid Eligibility

The federal formula used to determine need-based aid expects students who earn money to put that money toward college if they earn more than the formula allows. Under the formula for academic year 2006-2007, a dependent student can protect $2,550 in net earnings (after taxes) - or roughly $3,000 in gross earnings - without “penalty”. Beyond that, students can hurt eligibility for Pell Grants and other kinds of need-based financial aid because the formula will expect 50¢ of every $1 beyond the protected amount to be contributed by the student when calculating the student’s Expected Family Contribution (EFC), regardless of whether the student saved the money or not. (As your EFC rises, you are eligible for less need-based aid.)