Exploring Work-Study

One of the great ways to avoid excessive student loan debt, is also one that so many eligible students overlook. The federal work-study program offers many people the opportunity to earn money to pay for college expenses. The program encourages employment in fields related to your major or in community service. If you’re a chemistry student you may have a work-study job cleaning the chemistry lab, or you might be working with the professor in the lab helping younger students.

If you’re eligible for a work-study job please give it some consideration. While the income you earn is taxable, those earnings don’t count against your aid eligibility when you fill out next year’s FAFSA. It’s also income that can help you cover your college costs and keep the amount you borrow to a minimum.

To be eligible for a federal work-study position you MUST complete a FAFSA.

For more information about the federal work-study program click here.

Advantages:

• Your job may fit your course of study giving you training and experience in your field.
• Income earned in the program does not count against your aid eligibility for next year.
• Money that is not a loan and does not have to be repaid!

Disadvantages:

• Max of 20 hours per week. (This may be an advantage if you don’t want to work too much).
• Most often the pay is minimum wage.