Financial Aid Awards for first-time college students include a variety of offerings, including scholarships, grants, and loans. One award of financial assistance, Federal Work-study, is different from other types of financial aid awarded in that students must work to earn the funds. Yet, it is included as estimated financial assistance (EFA) and fulfills financial need toward covering a student's overall cost of attendance (COA) at a college or university. This study hopes to shed light on why students accept or decline Federal Work-study and their perception of the award regarding the investments they are making in their human capital and any outcomes. This study used a sequential explanatory mixed methods approach from a data set that includes students offered work-study through campus criteria and their actual experiences and perceptions through survey results and follow-up interviews. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]