I received BC student loans this year and it came with Canada Student Grant of about $1500. Do I claim this amount as part of student loan income or as a grant?

[Surajth]

We appreciate you choosing TurboTax,

This grant is not a loan and typically, you do not have to pay back grants ($1500).

You may, however, be required to repay part or all your grant if one of the following occurs:

• If you withdraw from studies within 30 days of starting school and don't return within five months of the start of the academic year as a full-time student
• As a result of a reassessment, you won't receive all or part of the grant you received at the end of the study period (e.g., dropped courses).
• In the one year following the start of your studies, you cannot verify your income

If your grant is converted to a loan, it will be:

• Additions to your loan balance
• Once you graduate, it will be included in your monthly loan payment

For further Clarifications, Please visit

CRA link: Canada Student Grants and Loans – What student grants and loans offer

CRA link: Grants and loans for full-time and part-time students

Student AID BC Link: Grants, scholarships, and other financial supports

Turbotax Link: When to Claim Bursary Grants

Please contact our phone support team or contact us directly on Facebook or Twitter if you require further assistance.