Scholarship - Room and Board
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.
Comments
-
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.
Alyse Braaten | Manager of Client Services – Grants & Scholarships | www.foundant.com | Bozeman, MT
alyse.braaten@foundant.com | Direct: 406.922.3376 | Cell: 661.364.1012
4 -
That makes a lot of sense, thank you!
0 -
@loritrenholm, this thread may be helpful to your question about room and board!
2 -
Thank you @danaberggren!
1
