Penn State Bunton Waller Fellowship

LMDB
Thu, 23 Apr 2009 12:40:10 +0000

Just a quick FYI to the parents of all candidates for full ride scholarships from the parent of such a student: Come tax time, if you plan to continue to claim your student as a dependent on your federal return, you must add the room and board portion of the scholarship to your gross income for the year. The state of Pennsylvania does not count any part of the scholarship as taxable, but Uncle Sam defines anything beyond tuition and certain fees as extra taxable income. Please consult your tax advisor and plan accordingly.