Scholarship payments paid directly to students

September 16, 2022

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Q.¬†We have a program at work where we are giving out scholarship payments to the applicable college/university for tuition. For one of the scholarships, we are making the payment payable to the individual student instead of the college/university. Are we required to report the payment on a 1099 or other form for the one that is paid directly to the student? A. (Answered by IOFM's third-party tax experts) If the student is a U.S. citizen or permanent resident, and the scholarship award is not…

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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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