Work-Study Question?

Question

What is the point of Work Study? Do employers pay you more? Is it easier to find a job? What's the difference between being in a Work Study program and just working without the program, don't you make the same amount of money but its money you can spend? I've been told that work study is bad because that means you will get less financial aid, and you will have to pay taxes because your work will be on record. (can't do under-the-table pay) Note: I am a college student in California.

Answer 1

O.K all u should do is go to the federal work study site at your school and they will give u all the info u need.

I did work study last year in the library and I loved it. Just check into it, works well if u are a full time

Answer 2

Pay depends on the school.  Some have a flat rate; some have variable pay based on the position.  Sometimes it's easier to find a job because they want to pay you out of work study funds (FA pays for it) instead of departmental funds if they can.  Some jobs are ONLY for people with work study funds.  You get a lesser FA award if you make more money, which I believe is unaffected by where it comes from.  You will have to pay taxes on it because it is earned income.

Answer 3

The biggest benefit of Work Study is the money you earn will not count against you when you do your fafsa the next year.  The amount you earn it is a question on "Worksheet C" of the fafsa... this section deducts from your total income.  

So if you had only a Work Study job and earned 5,000 a year, fafsa would calculate you with no income.  If you had a regular job and earned 5,000, fafsa would calculate all 5,000.  

If  you had TWO part time jobs during the year (as some do work in the summer and breaks) and did 5,000 in work study and 2,000 in regular work, fafsa would only factor in the 2K from the regular job.

Answer 4

The point of work study is to generally allow you to work on the campus of the college you attend. It helps the college pay your wages, which allows them to give you a job that allows your schedule to be more flexible, and often, the jobs have some downtime during which you can study (not always, but often).  Taxes do not have to be paid generally, because you will not make enough to warrant it.  When you fill out your w-4, claim exempt because you are a student and dont expect to owe.  THey will not withhold from you.

Answer 5

It's helpful because it allows students to work on campus and possibly gain some relevant work experience.  Work study does not mean you get less financial aid since work study is part of a person's financial aid package (if they are eligible).  If a person doesn't accept the work study and get a job on campus, the financial aid office will not offer any of type of aid to make up for the work study offer.

And to the person who said you don't have to pay taxes on it, yes you do.  And don't EVER claim exempt on a W-4 unless you know you are going to make less than $900 in one year.  If you make more than that and you claimed exempt, you will owe taxes when you file your tax return.