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OFFICIAL POLICY2.2.1Scholarships, Fellowships, Stipends, Prizes, and Awards10/13/2020Policy Statement The College of Charleston (CofC) will apply and follow the taxation rules of the Internal Revenue

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Research and identify scholarships and awards that you are eligible for.

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What is scholarships and awards?

Scholarships and awards are financial aids given to students based on various criteria, such as academic achievement, financial need, or special talents, to help cover the cost of education.

Who is required to file scholarships and awards?

Any student who receives scholarships or awards that exceed a certain amount or that are taxable is required to report them on their tax returns.

How to fill out scholarships and awards?

Students should provide accurate information regarding the amount of the scholarship or award, the awarding organization, and any associated conditions on the application form or when reporting to tax authorities.

What is the purpose of scholarships and awards?

The purpose of scholarships and awards is to financially assist students in pursuing their education, encourage academic excellence, and promote diversity and inclusion in educational institutions.

What information must be reported on scholarships and awards?

Students must report the amount received, the source of the scholarship or award, any conditions attached to it, and if applicable, how it affects financial aid eligibility.

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