How much of the student income is deducted as a part of need-based financial aid?

Paying for College
1

<p>Hi. I earn about $6000~8000 annually. How much of that will be deducted from my college financial aid package? All of it? Half? (Hopefully) a quarter? Before taxes or after taxes? Because I’d rather not spend 20 hours per week earning nothing.</p>

<p>If this differs from school to school, I got into Harvard EA and that’s probably where I’ll end up going.</p>

2

<p>any student income over the allowance which is about 2500-3000 is half removed from financial aid. Anything before that isnt touched</p>

3

<p>Under FAFSA for 2007/2008 school year $3000 of your income is protected plus an allowance for taxes then 50% of the remainder is expected to be contributed. Any money in the bank (or investments etc) 20% is taken. I don’t know how the profile at private schools would differ from this.</p>