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Student Care Network

The IRS issued FAQs on the Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under the CARES Act that clarifies that the CARES Act aid should be treated as a “qualified disaster relief payment” and not be treated as taxable income. Each financial award you receive from the federal government and other sources will have separate and unique tax consequences for your federal tax return. Visit the https://www.irs.gov/IRS website for assistance.