What is the difference between a job and the Work Study program?

I got a 5,000 dollar work study deal with my college (UMass Boston), but I have a steady job already. Would it benefit me more to keep my current job or have a work study job?





Any additional info on Work Study programs would be awsome!


Thanks!|||Work-study works just like a regular job. You work and earn money for the hours you work. Earn as you go program. If you already have a steady job you may want to consider keeping it, especially if it pays you more money than the work-study job. Also, the work-study position is going to limit you to earning at least that first $5000. Will you be able to earn more through the steady job?





Work-study is awarded to you against your total Cost of Attendance budget for the academic year, so if you accept work-study you are able to borrow less in loans. Not that this is a bad thing. Working and earning the money will help you get the same money you would have borrowed without having to repay it and having it accrue interest.





Money you earn in the work-study program is also deducted from your overall AGI on the FAFSA when you file the next year, unlike regular jobs where the income you earn counts 100%. This is why they ask you to list your work-study earnings under worksheet C, because it will take into account that the portion you earned in the year was work-study and not counted in the formula.





Some things to think about.