Work-study is a form of federal financial aid that lets eligible students work part-time to earn money for their education. Here’s what you need to know about it.
Federal Work-Study, or work-study, is a federally funded financial aid program that helps students with their financial aid expenses in college. The program can be availed by full-time and part-time students in undergraduate, graduate, and professional programs.
If your school participates in the federal work-study program, it provides a great opportunity for students to pay for their educational expenses.
How It Works:
Work-study is simply a form of financial aid for students enrolled in colleges. Students who are unable to get student loans or scholarships can apply for work-study to cover extra tuition, boarding, and other costs.
The part-time jobs can be on or off-campus; they help students get experience in their own fields.
To participate, students need to fill out the Free Application for Federal Student Aid (FAFSA) and show that they are eligible for financial aid. If selected, students can ask their schools to find out about available jobs and apply for open positions.
The students are paid hourly or on a salaried basis and can choose to transfer the amount to their bank accounts or directly to their institution to cover educational costs. The program is funded partly by the school but mostly by the federal government.
Earning From Work-Study:
With work-study, students earn at least the federal minimum wage of $7.25 every hour, or higher, as per the state.
Some work-study options may pay higher, depending on the type of work and skills, and students will have to work anywhere from 10 to 20 hours per week and can be changed according to their academic schedule.
The annual amount earned from a work-study job can’t exceed the amount of your annual work-study award, but this varies depending on when you apply, your financial aid requirements, and how much a school can fund.
The income earned is taxed on the federal and state level.
Work-study has plenty of benefits for students. It allows students to gain valuable work experience at a job in a supportive environment. The jobs help students develop lasting relationships with community members, professors, and school staff.
The money earned can be used as the student wishes for their educational expense, and the flexible timings give students enough time to participate in other activities and their education too.
Work-study is a great way to inculcate responsibility and leadership skills for students. Youth With A Future conducts youth leadership development programs that train and mentor young people in urban communities to bring a transformational change. Get in touch with us now!