Work Study and Loan Conversions
Work study amounts may be able to be converted to loans if you decide that you do not want to take a work-study job. However, it is more difficult to convert loans to work study as the money is allocated according to the initial requests for work study. If you are even marginally interested in work-study, be sure to check “yes” for the FAFSA question that pertains to your interest in work-study. For more information on work study/loan conversions, click here.
Read frequently asked questions here: Work Study Frequently Asked Questions
Work Study versus Loans:
As part of your financial aid package, work study jobs provide an amazing opportunity to:
- Earn part of your college costs rather than increase your loans.
- Decline and reduce the loan amounts offered to you.
- Remember that the less debt you graduate with, the more choices you’ll have in life!
Work Study versus Not Work Study:
You’re a highly sought-after employee, because work-study saves employers money! If a department pays you $16/hour, it costs the employer $8/hour. That subsidy is what makes work-study a financial aid program.
Work-study earnings don’t count against your aid eligibility when you fill out next year’s Free Application for Federal Student Aid (FAFSA). Non-work-study earnings are considered “additional income” on the FAFSA and may affect your financial aid package.