Helpfull tips

How can a scholarship benefit you?

How can a scholarship benefit you?

Scholarships help to lessen the impact of rising tuition costs. Tuition is on the rise nation-wide and scholarships give access to higher education for students of all income levels.

What all does a scholarship pay for?

Remember, scholarship money can be used to pay for any education expenses deemed necessary by your school. This could include books, laptops, lab equipment, housing, and more.

How do I know if my scholarship is taxable?

Is my scholarship taxable?you should advise your scholarship provider that your scholarship is exempt income – they do not need to withhold tax from your periodic payments.you should not show your scholarship as assessable income in your tax return.

Does financial aid affect tax return?

How Does the FAFSA Affect Tax Returns? Every financial aid award you get, whether a federal loan or a private scholarship, has an impact on the FAFSA. Thus, any money earned from the work-study program would have to be declared on a federal tax return.