If I get Financial Aid does this affect my taxes at all? Do grants, etc, count as income?
No, you do not have to report it on your taxes and it is not required. It is free money that you are entitled to. They will give you a sheet that looks like a tax form to take with you when you file taxes but you will not use it. Everytime I would go do my taxes, they would tell me that I didn't need to report those earnings and that the form is just for you to have as a reference.
Source(s):
College student of four years.
I've never had any problems with scholarships or grants counted as my income.
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