1. Are scholarships taxable?
2. Since I still claim my son on my taxes is it listed as his income or counted towards mine?
3. Will he get W-9s for all scholarships or just some?
4. DS has tuition already paid for all 4 years thanks to generous scholarship from his university. Can some of his Pell grant money be used towards transportation expenses? He is working this summer to try and buy his first car. My brother keeps telling me that they will send a check for any money that is left over. My son also accepted the loan package they gave him. He may not need it his freshman year but will probably need it next year. Is there any penalty for not using the loan the first year?