8.10 Process Educational Payments to Students

Policy Statement

University of Illinois System students may receive payment from the system for assistantships, awards, fellowships, grants, research support, scholarships, traineeships, travel, etc. The type, purpose, and primary beneficiary (student or University of Illinois System) of a payment determines how it is processed and whether it must be reported to the Internal Revenue Service (IRS) and/or the student’s university Financial Aid Office.

Reason for the Policy

The Internal Revenue Service (IRS) and the U.S. Department of Education (ED) impose strict guidelines by payment type on how payments to students must be reported.

Applicability of the Policy

All payments made to University of Illinois System students.