Is Student Finance classed as income?

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asked Apr 13 in Financial Aid by Trevorotty (200 points)
Is Student Finance classed as income?

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answered Apr 13 by Lawrence098 (360 points)
If the student finance or student loan is money received that you must pay back then that student finance loan will be counted as debt and not income.

So although you're getting money from the student loan company or financing the college education the money is mostly going towards college and other student expenses so the the student finance or student loan would not be counted as income.

When counting Student Finance or Student Loans on taxes or credit applications that would be classified as debt.

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