<p>bthomp, I’m not following you…afaik none of the current tax credits allow R&B to be included as a qualified education expense. My understanding was that only the QTP (aka 529) and student loan interest deduction consider R&B to be a qualified expense, is that right?</p>
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<p>No, Pell doesn’t work quite like other aid programs as it is an entitlement and is awarded first, before any other student aid. If the merit scholarship doesn’t cover their full estimated COA (sounds like it does not) there shouldn’t be an adjustment to either program.</p>