Taxes on Grants and student loans?
Aug 9th, 2008 by admin
I have a few student loans from last year and a couple pell grants. And since tax season is almost here, i just want to know whats going to happen? Do i pay taxes on the money i recieved for college? Also, I barely worked bc i was taking so many classes. But I have to file to recieve further financial aide. So am i going to pay out of pocket? or will the taxes still be income based?
For the grants no I also received them for my education but student loans they only charge you for APR like on a credit card. They arent allowed to tax that money because it is like a credit. I hope you understand lol i couldnt make it very simple.