Super Saving On College

Jan's daughter busted it during the summer, and now Jan has a question about the good thing that "busting it" produced.

QUESTION: Jan's 17-year-old daughter is going to college and has $20,000 in scholarships. Is it taxable? Dave has some good news for her. Then he takes a minute to let everyone know the lesson to learn here.

ANSWER: You ought to be VERY proud of her. She won't be taxed on that money. You guys have done a great job ... congratulations!