I just finished my taxes and to my great chagrin, I have to pay taxes on all scholarships
That is not the worst of it. When I fill out my FASFA, I have to put my income in as the amount that includes my grants and scholarships. So my "income" is not the $15,000 that I'd originally thought but, $27,000
This makes me eligible for less financial aid...and here we have our government screaming for education, nurses etc but yet they tax us on "free" money and include it in our income so that we don't get as much financial aid as needed! Talk about a two edged sword!!!