Visitor IV

GRANT MONEY

Why is my school allowed to screw me and my family out of the tax credit by allocating my grant money to qualified educational expenses?
1 Comment
Visitor IV

GRANT MONEY

I did not fully understand before I posted this. The pell grant is not restricted to qualified educational expenses so it does not matter if your school allocates the funds towards those expenses before paying the remainder to the student. Depending on your financial situation you can claim all or some of the grant as taxable income and then still get the tax credit.