Federal Work Study
Federal Work Study programs offer jobs to undergraduate and graduate students to allow them to earn the money they need to pay their educational expenses. Federal Work Study programs are designed to encourage community work, and work related directly to the student's major. The income you can earn will be at least minimum wage, and may be higher depending on the nature of the work performed.
The total amount of your Federal Work Study award depends on when you apply, the level of need, and the funding level of the school. You are not allowed to earn money in excess of the award under the program. You may of course earn money elsewhere. Undergraduates earn money on an hourly basis, and graduate students may be paid hourly or be placed on a salary.
Your school is obligated to pay you directly, unless you request that they apply payments to your tuition bills, other fees, or room and board. Work may be on campus or off. Off-campus work will usually be with a private non-profit agency or public agency where you can find work in the public interest. Some schools do have arrangements with private for profit organizations where you perform work directly related to your programs of study.
Source: The Student Guide, published by the US Department of Education. Note that federal financial aid programs are subject to change. Check with the school(s) of your choice to get the very latest information.