Scholarship and Bursary Terms: What to Check

Scholarships and bursaries often come with terms—you must maintain certain grades, stay in the programme, or repay funds if you withdraw or fail. If you don't read carefully, you might assume the money is yours to keep—but many awards require repayment or have strict conditions that can cost you. Here's what to check in scholarship and bursary agreements before you accept.

Conditions to keep the award

• Academic. Do you need to maintain a minimum GPA or pass a certain number of credits? What happens if you don't—do you lose the award for that term, or must you repay what you've already received? Some awards are paid in instalments and can be stopped if you fall below the threshold; others require full or partial repayment.
• Enrolment. Must you stay enrolled full-time? In the same programme or institution? If you switch programmes, take a leave of absence, or drop out, do you lose the award or must you repay? Get it in writing.
• Conduct. Do you have to follow a code of conduct? Can the award be withdrawn if you're disciplined? Check the terms.

Repayment

• When do you have to repay? If you withdraw, fail, or breach the conditions, do you have to repay the full amount, a portion, or only future instalments? Some awards require full repayment if you leave before a certain point—so you could owe a lot. Know the rules.
• How and when. Is repayment due immediately or in instalments? Is there interest? Get the details in writing so you're not surprised later.

Other terms

• Tax. In some places scholarships and bursaries are taxable—or tax-free up to a limit. The award letter may not say; check with your tax authority or advisor.
• Work or service. Some awards require you to work for the funder or in a certain field after graduation. If you don't, do you have to repay? Check the agreement.

BeforeYouSign can highlight conditions, repayment, and other key terms in scholarship and bursary agreements so you know what you're agreeing to—before you accept.