Taxable Scholarship & Grant Income

Overview

Hope College reviews financial aid applications to confirm the amount a student or parent listed on the FAFSA as college grants, scholarships, or AmeriCorps benefits reported as income to the IRS. Reporting an amount on the FAFSA indicates that the applicant paid taxes on these grants, scholarships, or benefits. This verification process usually applies to those renewing their FAFSA form rather than first-time applicants, ensuring that financial aid records align with IRS reporting.