Are scholarships taxable?

Scholarships used for tuition and required fees are tax-free. Amounts used for room, board, or personal expenses may be taxable.

Can I lose my scholarship?

Many scholarships require maintaining a minimum GPA (often 3.0). Some require full-time enrollment or specific major requirements.

Usually yes, but total aid cannot exceed cost of attendance. Check with your financial aid office for stacking policies.

Calculate the total value of a scholarship over your college career and see what percentage of total costs it covers.

Annual Scholarship Amount ($)

Scholarship Duration (years)

Annual College Cost ($)

Total Scholarship Value

$32,000

Cost Coverage28.6

Remaining Annual Cost$20,000

Total Scholarship Value vs Scholarship Duration (years)

A scholarship's total value is its annual amount times the number of years awarded.

Total Value = Annual Scholarship x Years

Coverage = (Annual Scholarship / Annual Cost) x 100

Remember to account for GPA requirements and renewal conditions.

An $8,000/year scholarship for 4 years at a school costing $28,000/year.

Estimate total financial aid.

Estimate total college costs.

Calculate education ROI.