input: [Code▲] 82001 [Definition] NACUBO 452.17 Scholarships and Fellowships. ?443 of this manual covers scholarship allowances. Under the AICPA NPO guide, most student awards are now accounted for as either scholarship allowances or agency transactions. Student awards, made from contributed funds or grant funds, that are under the control of the institution (the institution decides who gets the award) and result in allowances in tuition and fees or auxiliary enterprise charges are treated as reductions of tuition or auxiliary enterprise revenue. Student awards from grant funds (e.g., Pell grants) that are made to specific students (not determined by the institution) are considered agency transactions and do not result in either revenues or expenses. In other cases, student awards are made in exchange for services provided to the institution, such as graduate and teaching assistantships and student work-study programs. In those cases, expenses are recorded in the function in which the student provides the service. For example, a tuition remission to a graduate teaching assistant in the biology department would be charged to instruction. However, remission of tuition or fees granted because of faculty or staff status, or family relationship of students to faculty or staff, should be recorded as staff benefits expenses in the appropriate functional expense category. NACUBO?s Advisory Report 97-1 issued by the APC provides greater detail on accounting for scholarships and fellowships and examples on applying the standards. Institutions, in applying this guidance on allocating financial aid between revenue discounts and expenses, generally initially record all aid as an expense and then determine the amount of aid that should be reported as a reduction of revenues in their general purpose financial statements. Accordingly, it is still advisable to maintain expense accounts for aid granted. This category includes the following subcategories: [Banner Title] 
output: Scholarships & Fellowships