<p>I will be returning to work as a nurse in the near future to pay for the cost of college. I have gone through the interview and an open door is being held for me by my former employer until I am ready. </p>
<p>Dd is a junior this year, a homeschooler, and I love my time at home with her. I currently work from home, earning little, but enough to pay for tutors, distance learning programs and extracurricular activities. </p>
<p>Dh will have surgery this coming year that will decrease his income for about the first half of 2007. Though things will be tighter, we won’t need me working more to meet household needs. </p>
<p>We are on the edge as far as our EFC is concerned and may not qualify for much aid. Based on this, is there a better/best time for me to return to work?</p>
<p>For need-based financial aid the first year they look at is the year before your child enters college. So if your daughter starts in 9/2008 they will look at your income from 2007 and your assets on the day you fill out the FAFSA (early 2008). The later in 2007 you start the less income is factored into your Expected Family Contribution. However, the later you start working, the less money you have to apply to college. </p>
<p>Since you have to re-apply ever year your EFC is based on your income the year before. So if you have a low income in 2007 and a much higher one in 2008 your EFC could change dramatically. This would make it harder to compare packages from schools when she’s deciding where to go since you won’t know what the second year will bring. </p>
<p>Also, not all schools meet all of your EFC so you still have to come up with the cash. </p>
<p>It’s a personal decision about what’s best for your family. However, if I had a choice I’d rather have the money in hand rather than having to rely on merit-aid or need-based aid. As the parent of a bright senior, I wish I could tell her - you get in and we’ll pay for it. As it is we have to say " it’ll all come down to the money". </p>
<p>I hope all goes well with your husband’s surgery. </p>
<p>I also suggest you invest in a book about financial aid. There may be some other things that you can do to maximize your potential aid and now is the time to start planning.</p>
<p>Thank you for the great suggestions. I had not factored in the significance of the second year. Like you, our d is bright and talented, but I would never consider relying on merit aid as a sure thing.</p>
I currently work from home, earning little, but enough to pay for tutors, distance learning programs and extracurricular activities. </p>