Do I have to pay taxes on the money I earn through Federal Work-Study?
Filed under Financial Aid and Taxes.
Yes, Work-Study income is taxable.
You will receive a W-2 from the university at the end of each year, and this form will indicate how much you made from all UF employment, including Work-Study employment in the prior year.
Note that although you may have to pay taxes on Work-Study earnings, you should list those earnings as income on your Free Application for Federal Student Aid (FAFSA), but then also report them as exclusions in question #46 on the 2003-2004 FAFSA. When filling out the FAFSA, read the FAFSA booklet instructions for Worksheet C carefully.
The Office for Student Financial Affairs (SFA) in S-107 Criser Hall, is UF’s financial aid office.