Receiving Aid
Taxation of Aid Programs (Financial Aid Award Letter Guide)
Any funds you receive from scholarships, benefits, fellowships, and grants from UF or any other source that, combined, exceed the cost of tuition, fees, books, and required equipment and supplies, are considered taxable income. This includes Federal Pell Grants, but not UF or federal loans. You are responsible for record-keeping and completing your tax forms properly. You may want to keep a receipt file of educational purchases. For more detailed information, consult the IRS, your income tax form instruction booklet, or your personal tax adviser.