I have a question regarding an $18,500 stipend I received from an agency that is not my graduate institution. I have just received a lump sum payment for the amount above ($18,500) for the the 2016-2017 school year (I received it nearly 4 months late but thats neither here nor there). My question pertains to how much money I will owe my college now that the funds have finally been distributed. My current financial aid packet covers entirely my cost of attendance for the academic year, meaning that I owed nothing out of pocket for either the Fall 2016 or Spring 2017 semesters after my awards were dispersed. Will I basically just have to fork over my stipend award to the university or will I have some left over even though I have already met the cost of attendance for the year? I only ask because I know I won’t be able to keep all $18,500 (even though its from an outside source and there are work related payback requirements), and my university has been of NO help explaining this to me. My financial aid outline has not even reflected the fact that I have received a stipend even though I was awarded it in April 2016 and have just TODAY (1/30/2017) received the check for the funds. Any help would be greatly appreciated. Thank you in advance =).
I’m confused. Any income you received in 2016 will be used when you complete your financial aid forms for the 2018-2019 school year.
This is my last year. I will not be in school for 2018-2019
@BelknapPoint will a stipend paid in 2016 have any impact for this student…who is graduating college in spring 2017?
I read this as the student will graduate in Spring 2018. They are trying to figure out the impact of the stipend on the FA for their final year, 2017-2018.
I think since this stipend is paid in 2017, it will not appear on the students’ 2016 tax forms. But I think if the school uses the Profile for 2017-18 FA applications, the student has to declare it.
What would the student declare this AS on the 2017-2018 Profile.
Also…student says THIS is her last year. @ihernan1 when are you graduating…? Please clarify.
I think the student has the obligation to report this money to the current school NOW. It is no different than if the student received the money last August, as all scholarships and grants have to reported as it could cause the money the student received in the 2016-17 school year to exceed the COA.
The 2017-2018 FAFSA is based on 2015 income. Income received in 2016 is not reported.
What is this stipend? Is it a financial aid award from an agency? If not, it is not considered in the financial aid package. Sometimes stipends are part of financial aid, but often they are payment for work performed - so not included in a financial aid package. Further clarification would be helpful.
What are these work-related requirements?
Is it an Americorps stipend? I am confused & can’t really provide good advice without knowing the particulars of the stipend.
I’m guessing this program or something like it: https://sowkweb.usc.edu/document/1344
It says
If it is like the above, it may impact the aid package … but it may not have any real impact. Grad students are typically only eligible for $20,500 in unsubsidized loans - maybe a bit of Federal Work Study - and the rest is generally awarded as Graduate PLUS loans. In other words, it most likely just affects the amount you can borrow in Grad PLUS. And it is ALWAYS a good idea not to borrow your full Grad PLUS eligibility! 
I suggest calling the Financial Aid Office & asking them.
You say your current grad school costs are fully covered. What IS the aid you are receiving from your college? Do you have an assistantship, fellowship, or some grad grant money? What exact,y do you have?