Terms Following are a number of questions that students and parents often have about financial aid.
Also, listed below is an index of common financial aid terms. Part or all of a grant, scholarship, or fellowship may be taxable even if you do not receive a W-2 form. To determine this taxable amount, add up all grant, scholarship, and fellowship awards received in a calendar year, then subtract all tuition, fee, books, and supply expenses. If the remaining amount is a positive number, it must be reported as income. If you are not in a degree program, the full amount of the grant, scholarship or fellowship is taxable.