Tagged with scholarship tax in our Blog
Scholarships are a very much sought after form of financial aid. Why? They don't have to be paid back! Scholarships also may take on a significant meaning for a student, it may be they excelled academically, athletically, as a leader, etc. But are scholarships taxable income? Generally, scholarships are tax free. If you have questions, be sure to inquire with a tax professional. A scholarship is generally tax free if the money is not payment for past, present, or future teaching, or used for research. The money is to be used for tuition and it's related fees. Related fees include… Read more here!