Not only will you get paid every two weeks, but your earnings very well may help your financial aid picture for the following academic year. All earnings are considered when applying for financial aid. However, work study funds are removed from the equation when it comes time to determine your financial aid package. In a nutshell, your earnings appear to be less and thus you may qualify for more aid. Using your work study also allows you to apply for jobs that are not always available to all students.
Some departments are only able to hire work study students.
Students will receive a check every two weeks for the amount of time they worked the previous two weeks. It is up to you how you spend the money. This depends on the job. Some jobs, depending on the skill level needed will pay more. Many employers are unable to continue to employ students if they exceed their work study award.