A bill to amend section 117 of the Internal Revenue Code of 1986 to exclude Federal student aid from taxable gross income.
Make Student Grants Truly Tax-Free Act
This bill amends the Internal Revenue Code to expand the tax exclusion for scholarships to include amounts received: (1) through a scholarship or fellowship grant program administered by the Secretary of Education that is based on financial need, including a Federal Pell Grant; (2) as an Iraq and Afghanistan Service grant under the Higher Education Act of 1965; or (3) as a TEACH Grant under the Higher Education Act of 1965.Introduced in Senate
Read twice and referred to the Committee on Finance.
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