Updated: Aug 04, 2020

Financial Aid
Summer Jobs and Financial Aid: What You Need to Know
Find out how your summer job income might affect financial aid. Learn this and more about financial aid.
One question on the minds of many families is: "How much financial aid will we qualify for?"
Eligibility for financial aid begins with completing the Free Application for Federal Student Aid (FAFSA®). It's important to complete the FAFSA each year because colleges and universities use that information to determine eligibility for grants, scholarships, work-study awards and federal student loans.
The information you provide on your FAFSA is used to calculate your Expected Family Contribution (EFC). Your eligibility for financial aid depends on your EFC as well as:
If your EFC is less than the school's cost of attendance, you should qualify for financial aid. What happens if you don't qualify?
There are programs specifically designed to help families who may not qualify for need-based aid, as well as strategies to help maximize what you may qualify for.
FAFSA is a registered service mark of the U.S. Department of Education and is not affiliated with Discover Student Loans.
Did You Know?
If your child is considering an out-of-state school evaluate what states may be more affordable.