Is it mandatory to file 1098 T for college students?

[mthomas9815]

I have found conflicting answers on the internet regarding this question, so I've decided to ask it here. I am a college student who received scholarships and fellowship grants in the past year in order to pay for university (tuition as well as dorms). On top of that, I've also had to take out a heavy sum of federal loans in order to cover everything. However, when I enter the 1098T information, it tells me that I have 15k in taxable income.

Am I required to file my 1098T? I ask this as a college student, who would have to take out additional loans just in order to cover the projected additional amount due. 

Thank you

[Marketstar]

You are not required to enter your 1098-T as it is an informational document.

However, if your scholarships/grants (if any) exceed your Qualified Education Expenses, you are required to claim the difference as income.

If your educational expenses exceed your financial aid, you may qualify for an education deduction or credit.

So, you should claim both your financial aid as well as all of your qualified educational expenses.