College Scholarships - Taxes
The Ultimate Scholarship Book 2010: Billions of Dollars in Scholarships, Grants and Prizes
by Gen Tanabe & Kelly Tanabe

One of the biggest complaints about scholarship books is that you won't find enough scholarships. It is true that not every scholarship in this book will be applicable to you, but there are several reasons why I think this is the best of the bunch. First, you WILL find many, many scholarships that fit you. It will take some time, but it's definitely worth the effort and the way that this book is organized makes it as easy as it could be.

Second, what this book has that others don't is information on what to do once you find the scholarships--tips on how to win the awards. Highly recommend for any student who is looking for money to pay for school.

Third, this book doesn't waste space on those types of limiting scholarships. Instead it has scholarships that are open no matter which college you attend. I think it's probably the best $20 you can spend to find scholarships you can win!

     

College Scholarships


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College Scholarships
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 One year Scholarship Award is given to every teen that graduates from high school if - ? - ?

For more Information about this Scholarship

The Just Wait Teen Program

The Just Wait Teen™ program is life enhancing and is not a rehabilitation program, or is not a drug education program. Its objective is to encourge a teen to reach 21 years - substance free.

The Just Wait Foundation is a 501 (c)(3) nonprofit corporation to prevent drug, alcohol, and tobacco problems among teenagers. The Foundation provides one-year scholarships (two semesters) at a Community College or $1000 award to teens that completes the 4 year Just Wait Teen™ Positive Youth Development Program, obtains a GED, or graduates from high school - alcohol, tobacco, and drug free.

We offer free leadership training for any person or group that wants to start this program in their community. Visit this web site for upcoming dates. http://meaningfuljoy.info/workshop

Are Scholarships and Grants Taxable?

Qualified scholarships and fellowships are treated as tax-free amounts if all of the following conditions are met:

You are a candidate for a degree at an educational institution.
Amounts you receive as a scholarship or fellowship are used for tuition and fees required for enrollment or attendance at the educational institution, or for books, supplies, and equipment required for courses of instruction.
The amounts received are not a payment for your services unless required by the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.

A scholarship is generally an amount paid for the benefit of a student at an educational institution to aid in the pursuit of studies. Only amounts you pay as a qualified scholarship may be excluded from the recipient’s gross income. The student may be either an undergraduate or graduate.

A qualified scholarship is defined as any amount expended for "qualified tuition and related expenses." Qualified tuition and related expenses are tuition and fees required for the enrollment or attendance of a student at an educational institution, fees, books, supplies and equipment required for courses of instruction at such educational organization.

The Form W-2, Wage and Tax Statement, instructions say to give a Form W-2 to each recipient of a scholarship or fellowship grant only if you are reporting amounts includible in income. Amounts are subject to federal income tax withholding (depending on how the Form W-4, Employee's Withholding Allowance Certificate, is completed) but not for withholding of social security or Medicare unless they are employed as a condition for receiving the scholarship.

Note that the Form W-4 instructions state that an individual cannot claim exemption from withholding if their income exceeds $900 and includes more than $300 (for the year 2008) of unearned income and another person can claim the recipient as a dependent on their tax return.

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Index of Articles about College Scholarships

What Other Authors say about College Scholarships

College Financial Aid Scholarships-get The Money You Deserve For College by Josh Neumann

If you're looking obtain college financial aid scholarships, you have certainly come to the right place. There are many students today that have the option to receive college financial aid scholarships...

Applying For Scholarship Grants For Nursing School by Simon Oliver

Scholarships can be confusing for parents, but they can save them thousands of dollars. There are different forms of scholarships, but all of them are essentially gifted money for college. Unlike loans,...

 Athletic Scholarships by Marcus Peterson

Students who excel at sports such as baseball, basketball, football, soccer, gymnastics, rowing, athletics, track and field events, swimming, or golf often attend college on an athletic scholarship. One...

 College Scholarships by Jim Power

When you are heading off to college there is a lot of things you need to do before you can even start the process. First off you have to make sure you have the education in high school that you need, the...

In the articles shown above on this web site you will find information that has been collected from many independent sources. Each article or item may offers a different point of view, but not necessary that of the CPA Mom's. This information is for general information only.