A scholarship is an award given solely on the basis of academic performance or standing. There may be limitations as to eligibility, but of the students eligible, the one with the highest grade or grades receives the scholarship. A grant is an award for which need is a prime consideration, normally with the provision that the recipient be, or remain, in good academic standing. Grants are issued at the discretion of the Director of General Student Services. Loans are normally repaid before the commencement of subsequent semesters.
Interest is charged on outstanding loans.
Administration of loans is at the discretion of the Director of General Student Services. Some awards may be held for more than one year, but are renewable only if the student maintains scholarship standing. Awards are usually disbursed in one instalment. Entrance scholarships are open to Canadian citizens and landed immigrants graduating from secondary schools within Canada who are admitted to Memorial University on the basis of high school grades and current entrance standards and who meet the current definition of scholarship standing. They are also open to students in the above category who may not be coming directly from high school.