@kaw read this response. Will your student really earn more than $7600 a year? And if so…it’s only the income more than that that will be assessed at 50% towards family contribution.
But as I said…if he has $7600 in the bank the day he files his FAFSA, 20% of that will be added to his family contribution as an asset. But 80% will still be there to contribute towards college costs.