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Scholarships and bursaries

Student Awards and Financial Aid (SAFA) offers a number of scholarships and bursaries to help students in need. These two valuable resources are provided by:

  • External businesses
  • Generous individuals
  • Organizations
  • Provincial and federal governments
  • UOIT

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 the Ontario Student Assistance Program (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 not considered taxable income, but must be reported to the Canada Revenue Agency through T4A forms. Find out more about tax guidelines and the new rules regarding scholarships and bursaries.