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Originally Posted by
MadDawg
Certainly this is true. But there are those that bust their ass and do incredibly well and get "full ride" scholarships. And then they (or their parents) get a rude awakening come tax time and realize a good chuck of that scholarship, the part that pays for room and board and other expenses, is actually taxable. And then the final kick in the nuts is when the IRS classifies that income as "unearned income" because it didn't come from a job and forces the child to pay taxes at the tax rate of the parent. Fun stuff.
Try explaining to your kid that their scholarship is "unearned income". LOL.
The United States does such a great job suppressing education for anyone that doesn't come from wealth.
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