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I'm wondering how long $3000 has been the income allowance for dependent students. Also, does it strike anyone else as odd that the govt wants 50% of the income over that amount AND 20% of anything the student has saved (in their name).
Does the income allowance get adjusted for inflation ? And it seems like the govt is double dipping.
Student earns 7000. Govt takes $2000. Student has $750 in the bank. Govt takes another $150
The $2150 that the govt adds to EFC is over 30% of the students gross pay. Seems very excessive to me.