How awards affect your aid
When you receive a scholarship or bursary, it counts as gift funding. This means you do not have to pay it back. However, receiving an award can change the total amount of other financial aid you are eligible for. Your financial aid package is calculated based on your estimated costs and your financial need. If you bring in additional gift funding, we adjust the rest of your package to stay within that limit.
Explanation of how scholarships interact with grants, loans, and co-op earnings
Your financial aid package is built to cover your approved costs. When you receive an external scholarship or bursary, it is added to your total funding. Here is exactly how each component adjusts:
- Grants: Provincial and federal grants are based on your demonstrated financial need. If your external scholarships push your total gift funding above your need, we reduce your grant amount first. We never reduce your grant below the minimum required for you to remain in good standing.
- Loans: Student loans are not reduced by scholarship money. You can receive a scholarship and still qualify for your full approved loan amount. Loans are based on your costs minus other confirmed funding, but scholarship money does not reduce your loan eligibility.
- Co-op earnings: If you are in a co-op program, your work term earnings are treated as income. We expect you to use this money to pay for your tuition and living costs. Co-op earnings will reduce your loan eligibility for the next academic term.
What you need to do
You are responsible for reporting any outside awards, scholarships, or bursaries you receive. You must report these changes as soon as you are notified. You can update your information through the myWrenford portal under the Financial Aid section, or by emailing the Student Financial Aid office directly. If you do not report an award, you may have to pay back money you received, or you could lose future aid eligibility.
When to report
We recommend reporting awards as soon as you receive the official notification letter or cheque. If you receive a large award that covers more than your total annual costs, let us know immediately so we can adjust your tuition balance and stop future loan disbursements. You can report changes at any time during the academic year.
Who this applies to
This policy applies to all domestic and international students who receive provincial or federal student financial assistance. If you are self-funded or not applying for government aid, this policy does not affect you. However, we still recommend that you report any large awards so we can ensure your account is accurate.
Contact us
If you have questions about how a specific award affects your package, contact the Student Financial Aid office. They are located in Hollis Hall, Room 202. You can reach them at 519-555-0173 or email [email protected]. Office hours are Monday to Friday, 8:30 a.m. to 4:30 p.m.