Tuition grants, also known as tuition benefits or tuition remission, are a type of financial aid that allows children of employees of certain universities to attend school at a reduced cost. These grants are typically provided by the university as a benefit to its employees and are not based on financial need.
The impact of a tuition grant on the expected family contribution (EFC), which is used to determine financial aid eligibility, will depend on the specific terms of the grant. Some tuition grants may be considered part of the student’s financial aid package and may be taken into account when calculating the EFC. In these cases, the grant may be treated as a resource that is expected to be used to pay for the student’s education, and it may be factored into the EFC calculation in the same way as other forms of financial aid.
Other tuition grants may be considered a form of employer-provided income and may be counted as part of the parent’s income when calculating the EFC. This is more likely to be the case if the grant is considered a taxable benefit by the Internal Revenue Service (IRS).
It’s important to note that the impact of a tuition grant on the EFC will depend on the specific terms of the grant and the way it is treated by the financial aid office at the school. To get a better understanding of how a tuition grant may affect your child’s financial
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