i was just thinking about this after reading another post. Sophomore Son in college received a small unexpected $1200 scholarship for this year. Nice. He already has tuition scholarship.
however, this scholarship is a wash basically. it doesnt help monetarily at all.
We received about $1200 back on our taxes last year from AOTC. His new scholarship is made out directly to school, so it'll basically cover fees, and we wont have much to declare for AOTC credit. However, if this scholarship were to be made to him, and he used it for housing and food, then it would actually be of help.
why wont scholarship donors do this? Its an honor to receive the scholarship, but its of no financial help actually. We try to use our resources as wisely as possible, and i'm curious on why the colleges or donors dont know about this small loophole and benefit as well.
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