I just read a comment in the article “50 Reasons the Idea of Free College is Misunderstood” in the NYT online. The comment talked about “the Kiddie Tax” applying to scholarships above and beyond the cost of tuition and gave an example of a $7k tax bill on a $20k scholarship for room, board, fees, travel, laptop, and all of the other expenses that comprise the full COA covered by schools like UCF, UF, ASU, etc., for NMF scholars. I would love to hear from those of you whose students are currently enrolled on an NMF full ride. What are you seeing in your tax bills? I guess I need to give my accountant a heads up to help me prepare for a multi-thousand-dollar cost for a possible free ride?
@FrozenMaineMom @mmom99 @drxxpresso