How much earned income do you need to make before it effects your aid?

Paying for College
1

<p>How much earned income do you need to make before it effects your aid package? I made almost $4k during 2006, so will that count against me???</p>

2

<p>Please sum1 answer???</p>

3

<p>It will affect your EFC slightly.</p>

<p>If you want to know how much, use an EFC calculator, and plug in 4000 of income, and then redo it and delete the 4000. That will tell you approximately how it will affect your EFC.</p>

<p>How it affects your financial aid package will depend on the school.</p>

<p>I’m not sure how it matters, since it’s done…I mean your earned it, so all you can do now is report it. I think that’s why nobody responded.</p>

4

<p>I believe FAFSA exempts the first $3200 a student earns each year, with that amount scheduled to go up in the future.</p>

5

<p>For the 2008-2009 academic year, FAFSA exempts $3080 of students’ 2007 earnings, plus social security and income taxes paid on income.
After that they want 50% of what you earn.</p>