Is Financial Aid Taxable?

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Financial aid can be taxable depending on what type of aid it is, such as grants and scholarships that exceed tuition and cost of attendance. Discover how tuition reimbursement can be taxed with help from a financial aid officer in this free video on financial aid and student loans.

Part of the Video Series: Financial Aid
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Video Transcript

Hi my name is Brooke Kramer and I am a financial aid officer at Argosy University in Salt Lake City and today we're going to talk about if your financial aid is taxable and that is a big depends on that. It very much depends on what types of financial aid you receive. If you receive grants, scholarships or other types of free aid that exceeds your tuition and cost of attendance, sometimes this can be taxable. This can be true as well for work study or tuition reimbursement. Normally if you receive tuition reimbursement from your workplace, sometimes they do tax you on that. Again my best advice for you is to actually talk to your legal adviser for taxes or also talk to the IRS about these questions because they can give you a definite answer as to what is taxable and not taxable when doing financial aid and receiving financial aid. If you have any other questions, please feel free to check out our website at www.argosy.edu.

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