Tertiary Bursary Fund

Tertiary study is becoming the norm for most students, as are student loans.

The amount of a student’s loan often places an undue burden on a young graduate. In an attempt to repay their loan quicker, some students go overseas to work while others go overseas to never return.

However, the pain associated with student loans can be reduced.  The Tertiary Bursary Fund allows a member to save with the Hibernians in the name of a child whom he or she wishes to provide a full-time tertiary education.

Contributions to the Tertiary Bursary Fund
At the time when members enrol their child, they select from three tables of contributions. The three tables are:

  • Half Bursary
  • Full Bursary
  • ‘Premier’ or one-and-a-half Bursary

Ordinarily, contributions to the Tertiary Bursary Fund are quarterly, however the Hibernians may accept a single lump sum for an enrolled child in lieu of quarterly contributions.

Bursary Payments
The Tertiary Bursary Fund pays the bursary out of accumulated members contributions plus income and bonuses. The bursary is the same amount for each student in each age group.

The bursary is only paid to those who take up full time tertiary study. If the designated student does not take up full time tertiary study, the contributions plus the interest are paid to the contributing member.

The contributing member has some control over the payment of the bursary. The continued payment of a bursary is dependent on satisfactory progress and genuine endeavour of the student. The member has some control over the payment of the bursary, and can request the Hibernians to change or stop payment to the student.

A student of 18 years or older can defer full time tertiary for up to two years or more in special circumstances.

Other Information
This is only a brief summary of the main rules governing the Tertiary Bursary Fund. Full details including those surrounding bursary cancellation, rates of interest, and death of the contributor or student can be obtained on request from the Hibernians national office.