Just as it sounds, the Federal Work-Study Program is there to support students financially by providing aid to facilitate on-ground working and practical experience in the course of their study. In this post, the World Scholarship Forum has put together relevant information about FWS such as, how much it pays students and a whole lot more. Enjoy your read. The table of contents below is there to guide you through the post. The FWS Program grants funds for part-time employment to help students finance the costs of postsecondary education. Students can receive FWS funds at nearly 3,400 participating postsecondary institutions. In addition, hourly wages are not less than the federal minimum wage. A participating institution enrolls each year for FWS funding by submitting a Fiscal Operations Report and Application to Participate (FISAP) to the U.S. Department of Education. Using a statutory formula, the Department designates funds based on the institution’s previous funding level and the average need of qualified students in attendance in the prior year. Mostly, the school or the employer must pay up to a 50 percent share of a student’s wages under FWS. While sometimes, such as FWS jobs as reading or mathematics tutors, the federal share of the wages can be as high as 100 percent.
What is Federal Work-Study Program?
The federal work-study program is a financial aid scheme put in place by the government to aid students in need of finance through the provision of part-time employment to undergraduate and graduate students. The FWS Program disburses funds for part-time employment to help students finance the costs of post-secondary education. Students can receive FWS funds at approximately 3,400 participating post-secondary institutions. In the course of the program, students may be employed by the institution itself; a federal, state, or local public agency; a private nonprofit organization; or a private for-profit organization. Institutions must use not less than 7 percent of their Work-Study allocation to support students working in community service jobs, like tutoring. Despite the fact that it might not cover all your college costs, the importance of FWS can’t be overemphasized.
How Does FWS Work?
For you to be eligible for federal work-study, you have to fill out the Free Application for Federal Student Aid to be eligible. Thereafter, your completed FAFSA application helps you qualify for federal financial aid programs including work-study. Being awarded Federal Work-Study doesn’t guarantee you a job. Schools that participate in the program award jobs on a first-come, first-served basis. What this entails is that students are usually responsible for securing their own work-study jobs. Your financial aid award that qualifies you for work-study doesn’t guarantee a job.
What Are The Benefits Of Federal Work-Study?
FWS offers a lot of benefits to students, both financially and otherwise. The following benefits are to be incurred from the Federal work-study program.
How Do I Become Eligible for Federal Work-Study?
To be eligible for the FWS program, you have to;
Be an undergraduate or graduate student in need of financial aid.Students in a post-baccalaureate teacher certification program are also qualified.Fill out the Free Application for Federal Student Aid via FAFSA official website.Check for a Work-Study option on your FAFSA award. Visit the FAFSA website and click on the “My Aid Award” to view the highest amount of money you may earn for the academic year. You may also contact the Financial Aid and Scholarships Office to learn more about applying and qualifying for Work-Study.
Where Can I Find An Eligible Work-Study Job?
After securing a work-study opportunity, the next step is to find a job that qualifies for the program. Many work-study adverts are on-campus and can include research assistantships, administrative duties in a campus office, or working in the library. However, some work-study jobs may be off-campus as well in places like nonprofit organizations or private companies. While some are community-service jobs, including tutoring, child care, and health care. Many schools have online websites with work-study job listings. Therefore, need to apply for jobs that are related to their field of study. Work-study jobs guarantee flexible hours so you can more easily balance work and school.
How Much Does Federal Work-Study Pay Students?
In the work-study program, you’ll earn not less than the current federal minimum wage. However, you may earn more depending on the nature of work you do and the skills required for the position. With a work-study job, you’re assured to earn at least the federal minimum wage, $7.25 an hour to $15 per hour or more in stiffer labor markets. If the state minimum wage is higher, you’ll earn at least the state minimum wage. According to a report by Sallie Mae on ‘How America Pays for college’, the average work-study award for a student with an eligible job earned $2,353 in 2017.
How Does Federal Work-Study Pay?
You can choose to get paid by check or direct deposit or have the money paid to your school account to cover tuition, fees, or room and board. However, there’s no requirement that you use the money for anything specific.
What If I Don’t Use My Work-Study Money?
The money gotten from the Federal work-study program is solely yours. Nevertheless, you can decide to use it to offset loans. However, If you don’t convert your work-study to loans, be sure not to include it as a resource in your personal budget. Therefore, if you don’t use it, the money remains yours.
Are Federal Work-Study Program Earnings Taxable?
Federal Work-Study earnings are part of adjusted gross income (AGI) and are subject to federal and state income taxes. However, if the student is enlisted full-time and works less than 20 hours per week, the Federal Work-Study earnings are excluded from FICA taxes.
Do I Have To Pay Back The Cash Gotten From FWS?
Work-study is a type of financial aid that does not have to be paid back unlike loans. Undergraduate, graduate and professional students in financial need are eligible for the work-study program.
Conclusion
Federal Work-Study is there to support students financially by providing aid to facilitate on-ground working and practical experience in the course of their study. Therefore, if you’re a student in need of finance, key into this program. Good luck! The federal work-study program is a financial aid scheme introduced by the government to aid students in need of finance through the provision of part-time employment to undergraduate and graduate students. For you to be eligible for federal work-study, you have to fill out the Free Application for Federal Student Aid to be eligible. You can choose to get paid by check or direct deposit or have the money paid to your school account to cover tuition, fees, or room and board. Work-study is a type of financial aid that does not have to be paid back unlike loans.
