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yayamama
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| Joined: | Fri Sep 1st, 2006 |
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| Posts: | 78 |
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Posted: Thu Jun 7th, 2007 12:01 pm |
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My daughter is working two parttime jobs to earn money because we're not going to be eliglble for any need-based scholarships and our EFC will be more than we'll be able to spend. She's going to have to work through college, as well.
Did any of your kids work jobs in high school or college? What kind of accounts did you save their money in? Should her earnings be put in someone else's name? Any advice appreciated.
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mackinaw
Member
| Joined: | Mon Mar 6th, 2006 |
| Location: | Michigan |
| Posts: | 786 |
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Posted: Thu Jun 7th, 2007 12:33 pm |
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My son worked mainly during summers in college. Trainer in debate camps, researcher for a demographer-sociologist, interviewer in a survey lab (not telemarketing). During the year, he occasionally picked up some cash writing about baseball. Whatever he earned, we matched to cover his incidental expenses at college. Regarding accounts, nothing special. It was his money and went into his bank account.
My daughter attended summer school a couple of summers, so didn't have good work experience. During the academic year, she had a part-time job two years, working 7-10 hours per week monitoring/instructing in wood/metal shops. Her program was very demanding and there really wasn't a good way for her to work more hours than that. Still, it helped to cover some incidental costs.
Last edited on Thu Jun 7th, 2007 12:34 pm by mackinaw
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atlantamom
Member
| Joined: | Tue Mar 7th, 2006 |
| Location: | Illinois USA |
| Posts: | 112 |
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Posted: Thu Jun 7th, 2007 01:23 pm |
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My son worked for his dad in high school and has a 8-hour per week job at school. My d (HS) is working this summer at Starbucks.
We view the money they earn as theirs and goes wherever they want it to go.
Our son filed his own tax return this year, although he is still our dependent. Our d can file her own or be included on ours. What I learned this year is that next year, my son needs to pay enough of his tution from his own funds to qualify for the tax credit for higher education expenses, while not paying so much as to no longer qualify as our dependent. We can't take the tax credit because of the phase-out. Don't know if this applies to you, but if so, you might want to look into it.
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Northeastmom
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| Joined: | Sun Mar 5th, 2006 |
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| Posts: | 514 |
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Posted: Thu Jun 7th, 2007 01:34 pm |
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| My son is working in a home improvement/lawn and garden center. They are very busy, so there is no shortage of hours that he can work. He applied for the job online right after finals. He interviewed as soon as he came home, and began working 4 days after he came home.
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openmind
Member
| Joined: | Mon May 8th, 2006 |
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| Posts: | 107 |
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Posted: Thu Jun 7th, 2007 02:30 pm |
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We don't get need-based aid either.
My D had a FT paid internship at an NGO as a rising hs sr and rising college freshman. She also had 2 freshman summer PT jobs on nights and weekends over the rising freshman summer. This summer she has another paid FT Federal Government internship but is also taking a PT position on the weekends.
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