Scholarship Room & Board/Potentially Taxable Expenses
We have a new scholarship in which the donors want the scholarship to have the option of the student being allowed to use funds for room and board; specifically, assistance with off campus apartment rent or living expenses. All our scholarship payments are made to the student's tuition account at his/her school and are nontaxable. Do any of you have experience on potentially taxable scholarships? If so, how do you manage them? Thanks in advance for any guidance!