[GQuagmire]

With out getting into details unless needed any answer to the question are greatly appreciated. Thank you

[MetaThought]

It’s a loan, not income.

[crusty old prospector]

Nope. It is given directly to the student. As long as certain requirements are met, it is not considered taxable income.

http://www.irs.gov/publications/p970/ch01.html#en_US_publink1000177987

[svcw]

When my daughter was in college, if the money went directly to her to use as she saw fit yes, if it went to the college to deffer costs no.
I am amusing you are talking grants. If you are talking loans, no.

[elk]

You should read the Vox Day article about student loans, on World Net Daily; he's got a great point about being a debt slave, indentured to the student loan people forever.

So, while I have no answer to your question, I try to flag the very real dangers about willy nilly college debt to everyone.

All the best to your child, though!