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Level 1
Jul 27, 2024 9:25 AM UTC
Question

School loans

How do school report the portion of loan that was left over after tuition that is disbursed to student to be used for rent, food …ect 

1 reply

Hal_Al
Level 15
Level 15
Jul 27, 2024 11:46 AM UTC

You don't report it, at all.  Left over student loan money is not income. 

 

If scholarship money is left over, the answer would be different.  But loans are "your money" and it does not matter what you do with the money.  It's your money, because you are obligated to pay it back.  You weren't given that money. You only borrowed it.