Payments
Half of the funding for these scholarships ($2,500 per scholarship) will be provided by the Government and this will be matched dollar-for-dollar by universities ($2,500 per scholarship). The money provided by the universities must be new money and not funding currently allocated to other scholarships.
The TEC will pay each university an up-front funding allocation on the basis of confirmed numbers of scholarships to be supported.
The process by which each participating university will pay scholarships to students will be managed autonomously by each university.