Taxes and College Financial Aid

[SmileyEH]

I go to a small liberal arts school (Amherst College) in New England, and I'm on significant financial aid (still not enough though lol). I've been making fairly decent money in the last month or so, and I expect to take down around $1000-$1500 a month during the school year.

Question 1) Would anyone recommend hiding this income from the IRS and my school's financial aid dept?

Question 2) If I do (most likely) declare this income, does anyone have any idea how much will be simply taken away by the financial aid dept (eg. cents on the dollar)?

I don't really feel comfortable walking into the financial aid dept. to ask what I should do about the $20k I expect to make playing poker in the coming year, and I figure there must be some college students out there in similar situations.

thanks,

-SmileyEH