Starbucks Baristas: The daily grind
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scap program! (self.starbucksbaristas)
submitted by arctic-lyra
so- i just got out of highschool and i’ve been working at starbucks and have only been told that the asu program is free first degree but i’m starting to see stuff saying otherwise…
i already have to pay 600 for my car, and i’m starting to think that it’s not worth it?
people getting paid 900 but it goes down to 170 and stuff like that.. i literally cannot afford that :/
i already have to pay 600 for my car, and i’m starting to think that it’s not worth it?
people getting paid 900 but it goes down to 170 and stuff like that.. i literally cannot afford that :/
Affectionate_Fart 7 points 10m ago
You have to look at the financial things.
So my example:
I have taken 12 credits from Spring to Summer and am taking another 12 credits from Fall to winter.
That’s 24 credits. Classes are generally 3 credits apiece.
So far my schooling has been 15k.
I get a 42% scholarship from sbux before the tax limit is imposed ($5250) which is close to $6300 a year that’s not covered by the SCAP limit of $5250.
Now that remaining balance is: $8700.
That $8700 is now subject to income tax above $5250
(So minus $8700 from $5250, you get $3,450). I was fortunate to get $2,000 in added scholarships from ASU for my GPA. Leaving me with $1450 in “taxable income” (roughly 30%). Meaning I’m going to pay ~435 on income taxes (government level not adding state/county taxes) on the benefit. For 24 credits of college that WOULD have cost me $15k.
It’s not a bad deal, you just have to weigh the benefit of finishing earlier or later depending on the credit cost.
You can also keep an eye on your reimbursement rate.
So my example:
I have taken 12 credits from Spring to Summer and am taking another 12 credits from Fall to winter.
That’s 24 credits. Classes are generally 3 credits apiece.
So far my schooling has been 15k.
I get a 42% scholarship from sbux before the tax limit is imposed ($5250) which is close to $6300 a year that’s not covered by the SCAP limit of $5250.
Now that remaining balance is: $8700.
That $8700 is now subject to income tax above $5250
(So minus $8700 from $5250, you get $3,450). I was fortunate to get $2,000 in added scholarships from ASU for my GPA. Leaving me with $1450 in “taxable income” (roughly 30%). Meaning I’m going to pay ~435 on income taxes (government level not adding state/county taxes) on the benefit. For 24 credits of college that WOULD have cost me $15k.
It’s not a bad deal, you just have to weigh the benefit of finishing earlier or later depending on the credit cost.
You can also keep an eye on your reimbursement rate.
heyitsmaria24 1 points 10m ago
Wait, can you tell me more about Arizona giving you a scholarship based on your GPA? Do you have to apply for that or do they automatically give it to you? Because I’m currently wanting to take 24 credit hours a year but I won’t get fafsa grants after 2 years (reached my 6 year limit) , so I’m really trying to figure out other alternatives when I don’t get the benefit of extra money helping me out
Affectionate_Fart 1 points 10m ago
I honestly don’t know anything about it. I just had a “CAP scholarship” and was informed by other students that ASU does it for whatever reason. (I’m assuming it’s because of my GPA…but it could also be because I don’t qualify for aid.)
heyitsmaria24 1 points 10m ago
Gotcha! Thank you! I believe someone told me they do give that scholarship sometimes depending on how much they have and if you qualify financially as well.
Affectionate_Fart 1 points 10m ago
Yeah. I get an added CAP scholarship of $1,000 a semester.
arctic-lyra [OP] 1 points 10m ago
i got 1900 in my fafsa, and i plan on taking 16 credits a year (?) idk what that says or if it’s under the taxable limit…
Affectionate_Fart 2 points 10m ago
Talk to SCAP. They’ll know more about financials.
dazedandconfusedhere 1 points 10m ago
This! It’s all based on how many credits you take and the value of what Starbucks pays. If you keep it under the taxable limit, you won’t have to pay a penny!
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