Finanicial Aid?

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Do/Can you use your school financial aid refund as part of income for tax purposes

2007-10-22 05:46:49 · 2 answers · asked by jordynorr100 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

No. You don't report it as income. The government already knows about it. And you'll be paying it back once you graduate.

2007-10-22 05:55:01 · answer #1 · answered by *Cara* 7 · 0⤊ 0⤋

Not sure what your are asking when you say financial aid refund. If you get a loan, no it isn't taxable and you don't report it. If you get a grant, part of it might be but that depends on circumstances and what it's used for.

If you'll explain a little more of what you mean by "financial aid refund" you can probably get a more complete answer.

2007-10-22 05:57:26 · answer #2 · answered by Judy 7 · 1⤊ 0⤋