Both my kids have student loans and scholarships. One has $17025 from scholarships and grants and her payments per 1098-T is $13940. She only made roughly $3400 this year. I ran her stuff through turbo tax and it is saying she owes federal $987 and then state is about $613. Only one of her jobs took out fed taxes in the amount of $3 and the college did not take out any for her job on campus. Do these numbers even sound right? We did put down that she paid $5334 out of scholarships for room and board but it just seems like almost $1600 in taxes is a bit much (though that is better than $17K in student loans that she would have to pay if she did not have the scholarships).
My son is kind of in the same situation but his total between fed and state is around $1000.
