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7
3 years ago
Paying for College

Scholarships

Are scholarships given to anyone or do you need to present some type of tax form to report your household income?

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3 answers

4
3 years ago

You can get scholarships on CollegeVine regardless. Other scholarships may require a verification of your household income.

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1
3 years ago[edited]

Depends on where you're getting the scholarship from.. You can get them online, from local colleges or communities, at your school, etc, but for most I'd say yes you do (sometimes). If any part of your scholarship or fellowship grant is taxable, you may have to make estimated tax payments on the additional income.Taxable scholarships are a "hybrid" income category. They are unearned income for most purposes, including the "kiddie tax". But taxable scholarships are treated as earned income for purposes of a student-dependent's standard deduction

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1
3 years ago

A lot of scholarships don't require a tax form. Those are mostly the ones that are need-based, showing you don't have the money for college. Others that are merit-based or essay based probably won't, but you need to look into the individual scholarships to be sure.

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