Financial Aid Calculator

This calculator will help you to calculate the amount of hours you will be able to work each week. The number of weekly hours is your potential earning power; it is also your limit. If you work more hours than you're allotted, America Reads will not be able to reimburse you.

To use the calculator, you will need 3 pieces of information:

1. Your workstudy award amount. (You can find it on ISIS under student records and financial aid.)
   
   
2. Your hourly pay rate.
   
   
3. The number of weeks you will work during the semester.
   To use the calculator, you will need to determine how many weeks you will work during the semester. Typically, returning tutors will work 11-12 weeks because the recruitment/hiring, training, placement process takes 4 weeks. However, if you are a new tutor, or returning tutor who will work more , you will need to adjust the number of weeks you will work to 14 for new tutors, and 14-16 for early returning tutors.
   
   Note: New tutors who work during training, or returning tutors who start early will need to include those hours as part of their equation to get an accurate result.

For Fall semester:
Your workstudy award is for the academic year (Fall and Spring).
To determine how much money you can earn in a semester, divide your award by 2 before you enter it into the calculator.

For Spring semester:
You will need to do a bit of extra work for this one since you have already used approximately half of your award. You will need to find out exactly how much of your original award you have already used. This can be done by calling the Financial Aid Office at 319-335-1450 and asking how much workstudy you have left.

Equation for Hours you can work per week is:
Your award $$ left / (your hourly pay * # of weeks you will work) = # of hours you can work per week

For example: If your work study award is $1500.00, you make $10.00 per hour and you will work 12 weeks this semester, you would enter the expression 1500/(10.00*12). Using this example, you would be able to work approximately 12.5 hours per week.

If you are figuring for the fall semester don't forget to divide your award by two before calculating.