Does the protected income cap ($6000) apply to summer earnings or academic year?

Paying for College
1

<p>Does the protected income cap ($6000) apply to summer earnings or academic year?</p>

2

<p>It applies to the entire year…all 12 months.</p>

<p>However, I don’t know if W-S earnings are excluded from that $6k amount.</p>

3

<p>Work study funds are excluded.</p>

4

<p>Thanks. If I’m not mistaken, will I be effectively earning $4.10/hr (half of my wage) once I exceed the cap?</p>

<p>If anyone happens to know what time period is taken into account, could they post as well? I will have earned about $5000 this summer and am hoping the period ends starts and ends in December, rather than beginning and ending in May.</p>

5

<p>It’s the whole year… January to December.</p>

6

<p>Since the FAFSA is based on the previous tax year, it’s the tax year not the academic year, Jan to Dec as has been said.</p>

7

<p>Yes, it is the tax year, Jan to Dec. So for the 2013-2014 FAFSA , it will be your earnings for the tax/calender year 2012. WS income is protected and therefore not included in the $6,000 cap.</p>