Does having a paid job affect financial aid?

washmother
Wed, 28 Nov 2012 15:31:40 +0000

jcabelleta – You are required to file a tax return if you make over $400 in self-employment income. If you are not having taxes withheld, then you are considered self-employed. If the company you work for pays you over $600, they are required to report it to IRS. Like cptofthehouse says, if you make less than $6000 it won’t affect your FAFSA EFC, but be aware that you may owe taxes on the money that you are making.