The IRS issued clarification this week that pandemic-related emergency aid is not taxable income, and should not be included in tax returns.
In the last year, some colleges provided aid for students affected by the pandemic.
This aid is intended for food, housing, course materials, technology, health care, and child care, the IRS said.
At large, public universities, the total dollar amounts going to students are in the millions. Much of this funding was made available through the Higher Education Emergency Relief Fund.
At The Ohio State University in Columbus, the institution is awarding grants of $500 to $1,000 to students, totaling up to $17.7 million. The University of Central Florida is awarding up to $25 million in grants.
“The pandemic has been difficult for so many families, and Ohio State is pleased to support students who may be facing financial challenges,” President Kristina M. Johnson said. “We thank our federal partners for helping to ensure that students are not derailed from their career and life goals.”
Taxpayers with questions on these grants can click here to visit the IRS website.
