Do I Get Less From Financial Aid If I Work?

Question

Im still in highschool junior year and i want to apply for a job so i can get some money to spend. but my mom is arguing that if i work, i have to pay taxes n fafsa can see that i work and give less money to me. Is this true? if it is, can i work until end of the year (2007, which Im still a senior) and quit my job and still get the same amount from FAFSA as if i wasnt working. Or do you guys have a better plan for me? Thanks

(I live in the US, Illinois)

Lets say I live with my parents and we are low - average income family. If i take a job that pays $10 per hour with a 2 week pay check that is around $500 (I still go to school/this is a part time job im trying to get), will FAFSA pay the same amount as if i wasnt working? One of my parent's friend said that their child got around $10K from FAFSA when since she wasnt working, if this even possible? By the way I have a brother who is graduating this year so would 2 student going to college affect the FAFSA funds?

Answer 1

For undergrad, they look at your parents income as well. I doubt you can make enough to make a difference unless your paretns are right at some cutoff point.

Answer 2

I'm certain that you will find all financial solution at= financial-care.info-

RE Do I Get Less From Financial Aid If I Work?

Im still in highschool junior year and i want to apply for a job so i can get some money to spend. but my mom is arguing that if i work, i have to pay taxes n fafsa can see that i work and give less money to me. Is this true? if it is, can i work until end of the year (2007, which Im still a senior) and quit my job and still get the same amount from FAFSA as if i wasnt working. Or do you guys have a better plan for me? Thanks

(I live in the US, Illinois)

Answer 3

The government will consider your income to go more toward your education then your parents income so unless you need the money to live on I would not encourage you getting a job, but if you really want the money or feel you need the money make sure it is part time and minimum wage. If you are to start school in Fall 2008 the funds you earn in 2007 will count on your FAFSA but if your parents make a lot of money anyways your little income won't make a difference in the funds you recieve, like wise if your parents make very little money the funds you won't make much of a difference either.

If you were independent and needed the money to live on I would encourage you to get a job first and worry second about how it will effect your financial aid but as it seems your parents take care of you and you just want your own discrecionary funds I would side with your mother.

Answer 4

FAFSA does go by last years income taxes.. If u are going to school in Aug. this year.. they only count ur income in 2006.. Until u become a dependent student (usually age 23 or 24) u have to count ur income and ur parents .. unless u make a whole lot, it probably won't make a difference but yes, if u work it will lower ur aid some more than likely.. However know that u won't get enough aid to cover ALL your school expenses if u don't work or if u do.. the max u can get as a freshman is around $4000.. loan and grant.. (depending on the EFC number).

Answer 5

don't think so ask a lawyer he or she would no.