Most student financial aid not affected by earnings

Despite student beliefs that financial aid awards are diminished by the amount of money in their bank accounts, the Office of Financial Aid says that a significant amount of money would be needed to alter the financial aid packages of most students.

by Linsey Helser staff writer

Lifeguarding, babysitting, camp counseling and waiting tables.

These are some of the jobs that college students work during the summer.

Many students work all summer to earn money to use toward paying Cabrini's bills. Everyone welcomes this extra money, but when it comes time to apply for financial aid, is this money helping or hurting students?

According to Beth Cairns, director of financial aid, for the vast majority of students, the money they earn is actually helping them.

In fact, students would have to make between $5,000-$8,000 before it would affect their financial aid needs.

"Very few students find themselves in that income category," Cairns said.

Many students do not realize that the money they earn in one year does not go into consideration for a financial aid pack- • age until the following year. need-based.

Also, the fust $1,700 in a student's earnings is subtracted from earned income before that number goes through the formulas, which determine the dents to remember that the office is expected to and is willing to contribute, but the students' first expense always should be their educations.

They are based on student and parent contributions and incomes, the assets of both students and their parents, as well as the size of the family. student's need.

Meghan Brassfield, a sophomore, worked at a Delia's retail store in New York during the summer to earn money for school.

"Even though the money I make won't affect me until next year, they'll hold it against me that I've made some money and lower the amount of my fmancial aid," Brassfield said.

Also, the number of family members in college and the ages of parents play a part in the need for financial aid.

"Sometimes it seems unfair, and sometimes it's black and white, but it is a fair formula," Cairns said. "Students must be careful to take all the variables into consideration."

Brenda Cruzado, a senior, worked at FAO Schwartz during the summer. She has been receiving financial aid every year.

"Because my financial aid has not changed significantly, I do not think that the money I earned for school has affected anything," Cruzado said.

Whether or not students feel that earning extra money hurts their financial aid packages, there is one important thing to remember, which can be an advantage. "The most important thing is timeliness," Cairns said.

It's important that students file their financial aid forms on time.

The deadline for underclassmen is April 1st.

The Office of Financial Aid wants students to realize that aid packages are all

The Office of Financial Aid exists to help in educational expenses, she said.

Knowing this fact, Cairns reminds stu-

It can make a difference in the amount of aid a student gets if they file too late. It's not a good idea to wait until the last minute.