<p>No, FA is not taxable.</p>
<p>Pan1956–the argument would be that if tuition was tax-deductible when paid, then FA would be taxable income. </p>
<p>I agree w/Grejuni about graduate awards being taxable. I’m no expert on this by any means, but I recall seeing it in the IRS code while researching education expenses. I’ll cross that bridge when Imy kids get to it!</p>