APR vs. Interest Rate
4 min read
Are Scholarships Tax Deductible?
4 min read
Last Updated: February 26, 2025
Key Takeaways
- Money from a scholarship fund isn’t taxable when used for qualified expenses.
- Leftover money from your scholarship that exceeds the cost of qualified expenses may be counted part of your taxable gross income.
- You should consult a professional tax advisor for more information on your scholarship tax liability.
Did you know?
Students: See if you’re Pre-approved
Next steps
See if you're pre-approved
Learn about Discover It ® Student Cash Back
See rates, rewards and other info
You may also be interested in
What is a Purchase APR?
7 min read
What Is Accrued Interest on Credit Cards?
5 min read
How to Lower Your Credit Card Interest Rate
6 min read
Was this article helpful?
Was this article helpful?
You are now on a Capital One webpage. Please be sure to review Capital One’s Terms & Conditions and Privacy Notice.