The combination of all financial aid awarded including scholarships, grants, loans and work-study cannot exceed your total cost of attendance. If you receive a scholarship, it may impact your other financial aid awards. CU-Boulder will use private scholarships to replace loans and/or work-study before adjusting any university grants or scholarships. We will email notification of a revised award letter if there are any changes to your financial aid.
A note about the taxation of scholarships: Scholarships received that exceed your total cost of tuition and required fees, books, and educationally related supplies and equipment are subject to federal income tax. Scholarships, fellowships or grants that are designated for room and board, transportation, and personal expenses may be taxable as income. Keep your receipts and copies of university bills. Questions regarding taxation of scholarships should be addressed to the local IRS office where you can obtain IRS Publication 970.