A scholarship is gift assistance that does not have to be repaid. Scholarships are awarded based on a student's academic achievement, athletic ability, field of study, special talents, etc.
Notify the OSFA of All Scholarships
If you receive a scholarship or any financial assistance that is not listed on your Electronic Award Letter, federal regulations require that you report it to the OSFA. You can report all scholarships (including prizes and awards) to the OSFA as soon as you receive your financial aid award letter. The OSFA will then recalculate your aid eligibility. If you have remaining unmet need or have not exceeded your cost of attendance (COA), your other awards may not be affected. However, once federal need or COA is met, outside assistance will result in the reduction of Federal Work Study and/or student loans. In very rare cases, other grants and scholarships may need to be reduced to remain compliant with federal regulations. Please be aware that if the OSFA is notified of outside financial assistance after you have already received a refund, you will be 100% responsible to repay any portion of the refund for which you are not entitled.
When receiving gift assistance, it is also very important that you are aware of the Internal Revenue Service (IRS) regulations regarding the taxability of such awards. When completing tax forms, it is the student's responsibility to account for such awards correctly. The regulations regarding the treatment of such awards can be found in IRS Publication 970, Chapter 1 – Scholarships, Fellowships, Grants, and Tuition Reductions.
The links on the left provide general information about the various state, institutional and private scholarships available to UIC students. If you would like more detailed information about the state scholarship programs or additional smaller state scholarship programs not highlighted on our website, please visit The Illinois Student Assistance Commission (ISAC).
For those federal and state programs specific to being a Veteran of the United States armed forces, please refer to the website for the Office of Veteran Affairs.
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