I am a fulltime student and I recieve both pell grants and student loans to go to school. My question is on my student loans. If I recieve proceeeds from my student loans after education expenses are thoes funds taxable or considered income.
Basically I recieved around $20,000 out of that amount $10,961 was used for housing and other bills do I need to put that on my tax form as income. Is it to be put in the income section or where.