1. Is financial aid for college subject to federal income tax?

2. Can federal and state education grants be taxed as income?

3. Are student loans taxable?

4. When is a scholarship tax exempt?

5. Do you have to be in a degree program to qualify for tax exemption?

6. When can the cost of textbooks be deducted from gross income for tax reporting purposes?

7. Can the amount of a scholarship used for tuition be deducted?

8. Can living expenses while on scholarship be deducted?

9. Is the income and stipend from a teaching fellowship or research assistant ship tax exempt?

10. Are the tuition, books, and stipends of ROTC students tax exempt?