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College Talk Blog

Do I list scholarships as income on the FAFSA?

As parents and students correct FAFSA's after completing their tax returns a they often wonder if they should be claiming the scholarships they won as income on the FAFSA. The good news is that you do not claim scholarships as income on the FAFSA unless you claim them as income on your federal tax return. Most scholarships are not claimed as income on a US tax return because they are being used by a degree seeking student to pay costs for enrollment in a degree program.  For more information on the treatment of scholarships on tax returns, visit (www.irs.gov).

8 Comments to Do I list scholarships as income on the FAFSA?:

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Accountants Birmingham on Wednesday, April 24, 2013 12:23 AM
Nicely written on the issue of scholarships as a income on the FAFSA. I like the accurate facts and details provided in the post. Very well written.
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Accurate Stock Tips on Tuesday, April 12, 2016 7:20 AM
As parents and students correct FAFSA's after completing their tax returns a they often wonder if they should be claiming the scholarships they won as income on the FAFSA......Fantastic web site. Plenty of helpful information is here. I am sending it to several friends and also sharing in delicious way. And of course, thank you to your sweet post!......

custom dissertation help on Wednesday, April 24, 2013 6:26 AM
Be sure that your structure in expository essays is very linear, making it easier to connect the dots.
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harpirisenergy on Tuesday, May 21, 2013 12:26 PM
I am extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the excellent quality writing, it is rare to see a nice blog like this one today..
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Colleges Canberra on Friday, May 24, 2013 4:22 AM
High rank student or Merit student easily get scholarship because of their ranking and it is really beneficial for their further studies.
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Pam Rambo, Ed.D on Friday, May 24, 2013 7:06 PM
You would think that high achieving students would easily get scholarships...unfortunately, that is not true in the USA. To get scholarships, students must not only have high grades and test scores, but they must have outstanding activity and leadership experience and write a wonderful essay. Few people or organizations, except college admission offices, seek them out to make an award. And college admission offices usually look at early applicants only when they award funds according to a priority deadline. Sometimes, high school counselors get students to apply for special scholarships or they nominate them. Most of the time, to get a scholarship in the USA that is not awarded as part of a college admission offer, the student has to 1)find the scholarship, 2) complete an often lengthy application process, 3) send high school transcripts and letters of reference and 4)pay attention to mail or email asking for more information so they don't get disqualified. It is true that academic achievement is critically importatnt, but it also takes much effort beyond that to get scholarship money beyond what colleges offer. Colleges do offer significant amounts of scholarship money to some students with admission offers. Three of my students this year received offers in excess of $50,000 US and many others also recieved scholarship offers from college admission offices in smaller amounts between $5,000 and $20,000. But most students need more and it takes a significant amount of work to find and apply for enough funds to meet college costs. That is unfortunate and the lack of sufficient scholarship support in the USA is driving students to accumulate excessive amounts of student loan debt which is a national tragedy. And to add insult to injury in the USA, student loan interest rates double in about thirty days. Most unfortunate for a country that says it values education.

Bad credit for car finance on Friday, June 28, 2013 1:54 AM
Hi all! This one is really a good post regarding the income tax on the FAFSA. It is going to help me a lot. The stuff and is very well topic related and useful for me. I quiet like the writers point of view. Good job.
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lawyers for bicycle injury compensation on Wednesday, July 3, 2013 5:24 AM
Useful information shared. I am very happy to read this article. Thanks for giving us nice info. Fantastic walk through. I appreciate this post.
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