Scholarship - Room and Board

AbbeyCameron

We have a very small scholarship program to date, but have a prospective funder who is very passionate about funding a "full-ride" scholarship including room and board. I understand this will create taxable income for the student. I'm looking for examples of a scholarship program that funds room/board and how you communicate that to the applicants. And any experience with releasing these funds or issues for students when they receive their tax paperwork? Thank you.

AlyseBraaten

Hey Abbey, I don't have an example myself, but at a conference I was at talked about doing two scholarships for each award. One that met non-taxable requirements and another for room and board. That way the entire award isn't taxable, just a portion. Not an expert here. Just something to think about.

AbbeyCameron

That makes a lot of sense, thank you!

DanaBerggren

@loritrenholm, this thread may be helpful to your question about room and board!

loritrenholm

Thank you @danaberggren!