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Student Loans Grants

Mary Said:

Do you claim student loans and grants as income at tax time?

We Answered:

Federal or private student loans and federal grants are NOT considered income. Therefore you do not have to report them as earnings. In fact you do not even have to file a tax return for 2007. You will need to complete a new 2008-2009 FAFSA form if you will be attending school after July 1 2008 so you will maintain your eligibility for Title IV loans and grants. The FAFSA will ask you about income which you will put $0.00; there is also a question about money received on your behalf, such as gifts ect… This is where you should estimate (with a dollar amount) how much the living, eating, utilities ect… are worth, which you receive from your fiancé.

Gertrude Said:

What is the best site to research student loans/grants?

We Answered:

This might help:…
I am not from the UK, so I have never gotten a student loan there, sorry.

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