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Sunday, September 1, 2013

Scholarship Myth #8: Scholarships are 100% free money

Myth: Scholarships are completely free money. 

Not always. Sometimes you need to pay taxes on them if they qualify as income—and sometimes they do! Tax credits and deductions can also help you make money, and you don't even have to write an essay for it! Talk to Minnesota College Funding Strategies or the IRS to work you through this process. Learning about taxes now will help you for years to come!