Bursaries are non-repayable awards issued to students who demonstrate financial need. They’re designed to supplement other forms of funding you may be eligible for. Before being considered for a bursary, you‘re expected to:
- Seek financial support from all sources including family, employment, loans, and OSAP or other provincial student aid program
- Review your OSAP application to ensure it’s accurate. Errors, omissions and appeals on an OSAP application can affect the amount of funding you receive.
University of Waterloo support statement
UWaterloo aspires to identify students with financial need and ensure that all eligible students admitted to full-time undergraduate programs have the financial assistance necessary to complete their studies.
What does this mean?
Financial shortfalls, as defined by OSAP, are determined by calculating OSAP’s allowable costs (tuition, compulsory fees, books, etc.) and subtracting your expected resources (income, OSAP funding, RESP’s, family contributions, etc.).
If your resources are higher than your costs, you do not have a financial shortfall. If your costs are more than your resources, you do have a financial shortfall and may be eligible for a bursary.