T4A and T2202 - Student Loan Grants

[gooham]

Hello, 

I am a university student in BC. 

I have a few T4A's this year - one is from the federal government for the grants I received from my student loan. The other is separate funding I received from another source that is not my University. Line 105 has multiple options, and I am unsure which one I should be using. 

For example, the 1st line 105 states "full-time SCHOLARSHIP (Also have T2202 with months in box 25)." I have a T2202 with months in box 25. But I would not say I have a scholarship, because it was not from my university, instead it was grants from the federal government and other funding. Should this income be put in box 105 line 1 or in one of the taxable options for 105. 

This makes a significant difference on the final amount owing/returned so I would like to clarify. 

I have read many previous responses that seem to simplify the problem but there is a difference between scholarships from a university and grants from the federal or provincial governments. Is it just as simple as because I have a T2202 with months for full-time student that all T4A income should go in line 1 option for box 105?

I appreciate any insight. 

Thank you

[JoanneLH]

Grants, like scholarships, received for full-time education are generally tax free if they are being used for tuition and do not exceed qualifying education expenses.  If you have a T2202 with a number of months in box 25, you would be fine to enter the amount of the grants and/or scholarships you received in the entry field that states "Full-time scholarship", unless you know any money received was to cover costs in excess of tuition and education related expenses.  You can learn more here.

Loans for education received from the Canada Student Loan centre may also be reported on the T4A, and in all cases, this amount can be entered in the entry field indicating "Full-time scholarship", as this field fully exempts the amounts entered from income, and loans are not income.

@gooham