Student Awards/Scholarships and Bursaries
The Student Awards Office:
The Students Awards Office works together with the Financial Aid Office to provide students with options to help fund/pay for their educational costs. As a student, you may need a combination of financial resources to cover all the expenses of a post secondary education. The Student Awards Office can help with scholarships and bursaries, which are two valuable resources available to students.
Scholarships and bursaries are funds provided for students by the institution, provincial and federal governments, organizations, external businesses, and generous individuals.
Scholarships: Scholarships are awarded to students who have achieved academic and personal excellence. Some scholarships are awarded solely on academic performance. Others are based on a combination of academic achievement and proven personal excellence including leadership and community involvement.
Bursaries: Bursaries are awarded to students based on their financial need. Occasionally, there may be other requirements for qualification such as membership in a certain organization, enrollment in a specific program, and so on. Academic achievement is not a factor in receiving a bursary, but students must be in good academic standing to be considered.
Do I have to pay back scholarships or bursaries?
Scholarships and bursaries are types of financial assistance that you do not have to repay. They are considered income by OSAP and need to be declared on your OSAP application, unless you have been notified in writing that the award will be reported on your behalf.
How do I declare this income and how will it affect me?
Scholarships and bursaries are no longer considered taxable income, but are reported to the Canada Revenue Agency through T4A's. For information on tax guidelines and the new rules regarding scholarships and bursaries, see the Student and Income Tax Guideat the Canada Revenue Agency website.
What scholarships and bursaries are offered by my institution?
The University of Ontario Institute of Technology has comprehensive awards programs. For details about these programs visit the following links: