Really confused about fin aid refunds and taxes

Paying for College
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<p>So I have about $2500 in scholarships, $5500 in govt loans and my parents have a PLUS loan for this year. The cost of attendance is about $22000 and both me and my parents receive refunds. What I understand is that scholarship refunds are taxable but loan refunds are not. If I get a refund how would I know if that is coming out of the scholarship or my loans? I also understand that scholarship money used for room and board are taxable but the school doesn't indicate which part of the bill they are using the scholarship for, so it could be that they used it for tuition, but how would I know? Even if none of it is taxable does it still need to be reported?</p>

<p>I hope these questions made sense...</p>

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<p>Assuming you’re studying for a degree. Are tuition, fees, & books expenses greater than the scholarships & grants? Yes, the scholarships & grants are not taxable. No, the scholarships & grants may be taxable</p>

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<p>And you don’t pay taxes on loans you receive.</p>

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<p>Thanks for the reply! The scholarships are definitely less than tuition and fees. I kind of figured that they wouldn’t be taxable because of that</p>

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<p>Even if the scholarships aren’t taxable would they still count in my AGI?</p>

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<p>^^^
No.</p>

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<p>Thanks Midd!</p>