$$ earned from co-ops/internships

<p>I'll be making some decent amount by the end of this year from my upcoming co-op. I presume I would have at least 8K saved in the bank. My question is: when it comes to filing fafsa, will it increase my EFC since they demand 50% or so of my student asset? I heard co-op earnings do not impact EFC somewhere on this forum too, so i'm confused. By the way, it's not like i'm trying to hide my money, all of it is going to be used on living expenses or negate upcoming loans so I dont have as much debt.</p>

<p>20% of a student's assets go to the EFC. 50% of a students income over the protected income allowance goes to the EFC.</p>

<p>I don't know how co-op earnings are treated - I had not heard that they are treated differently to regular earnings, but I don't know for sure - I don't recall ever seeing anything on FAFSA saying they are treated differently. I know internship earnings are treated just like regular income. My son had a well paying internship one summer and it did impact his EFC.</p>

<p>Found this thread...see if it helps.</p>

<p><a href="http://talk.collegeconfidential.com/financial-aid-scholarships/1054201-money-made-during-co-op-not-counted-fasfa.html%5B/url%5D"&gt;http://talk.collegeconfidential.com/financial-aid-scholarships/1054201-money-made-during-co-op-not-counted-fasfa.html&lt;/a&gt;&lt;/p>

<p>It does ask for co-op info on FAFSA.</p>

<p>That thread says co-op earnings do not impact the EFC. </p>

<p>I didn't know that.</p>

<p>Just checked the FAFSA website. You do report co-op earnings in the same section you report work study. That means it is deducted from income before the EFC is calculated, just like with WS.</p>

<p>what about the part where FAFSA asks you how much money do you have in your bank? If i saved 8k(earned from co op), and put 8k, according to the 20% student asset contribution, i'd be expected to pay 1.6K? EFC goes up as a result?</p>