Should financial aid from college be considered part of your income (in your opinion)?

Ah, but what about those that live on grants and scholarships? That money doesn’t have to be paid back. Hmmm hmmm? :)

Yes you are right about that… and hey I heard somewhere you have to pay pilgrants back. Is that true? I don’t see why they wouldn’t allow what you get back after college is paid to be considered an income, especially if you don’t have to pay it back.

I believe it should be classified as income. It is money coming to you to help pay for school, although i know alot of people who use it to live off of and pay for school later. Its money that you a physically getting in your posession so idk what it wouldnt be considered income.

Pell grants don’t have to be paid back. No grants do. Just those silly loans :)

That is what I thought! Here someone worried me by saying that the pilgrants had to be paid back as well. Wow, well thats one problem off my mind now! Thanks!! :)

Lol, glad to be of service :)

I think that money that you have to pay back should not be considered income. Student allowances and scholarships I think should be income, you’re pretty much being paid to study, like a badly paying job! I think all scholarships should be tax-free though. I get really annoyed here because they do treat living cost loans as income even though you have to pay it back. If you want to get an accomodation benefit, they count student loan money as income and you will be entitled to less which is stupid. Everything you have has to be paid back. The only good thing about student loans is that they are interest free at least. And they die with you!

oooh seven points! thanks!

Not all of them are interest free around here. It depends on where you get the aid from.

Lol, no prob.

here they were trying to encourage graduates to stay in the country. Oh, and there was an election on and the labour government saw it as an excellent opportunity to secure all the students votes. It worked too!

That’s the funny thing. When I went to college, I got OSAP (our provincial student financial assistance program) in the total amount of $60, 000. Because I have children, I only have to pay back $20, 000 of that (plus interest, mind you). So, would that $40, 000 be considered a student loan, or an income? Makes you wonder.