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I get that, but colleges can't reclassify what is, or isn't taxable income.
For instance, they can't stop calling it a "tuition waiver" (taxable) and start calling it "per diem" (non-taxable).
Maybe they would need to structure it a little different, but I'll bet a sharp tax attorney could figure a way to make the "waiver" non-taxable with a different wording.