University of Waterloo Scholarships provide the recipient with the following benefits:

The David Johnston–Lebovic Foundation International Experience Awards will be awarded worth up to $2,500 for a one-term study experience, $2,500 to $5,000 for a one-term work or volunteer experience, and up to $10,000 for a two-term work or volunteer experience.
International Master’s Award of Excellence is valued at $2,500 per term for a maximum of 6 terms.
 

To be eligible for University of Waterloo Scholarships, applicants must meet the following criteria:

Required Languages: English
Eligible Countries: All countries of the world.

- Candidates with good academic standing (usually a minimum 70% average at the undergraduate level; usually a minimum 75% average at the graduate level) can apply for these scholarships.
- The applicants must be full-time undergraduate and graduate students in any faculty who wish to participate in an international experience in Israel, including a minimally paid or volunteer international co-op work placement, an academic exchange, or a study term related to educational requirements.
- Usually given to students in research-based programs (thesis or major research paper).
- It will usually only be given to students entering the first term of their program.
- Students must demonstrate academic excellence through criteria established by the Faculty.
- Students must meet the academic progress requirements of their program and not have outstanding probationary admission requirements.
- This award could be in addition to other internal or external scholarships (e.g., UW Graduate Scholarship, OGS, etc.). Note that scholarships are different from sponsorships. See the next bullet.
- Typically, students should not concurrently receive foreign government or agency sponsorship (e.g., China Scholarship Council, Libyan sponsorship, etc.) or be fully or partially self-funded over the Faculty's minimum levels of support.
- Students grand-parented under the existing IMSA program cannot be nominated for an IMAE; however, a student previously awarded an IMSA for a previously completed master’s degree can be nominated for an IMAE.
- Students will be automatically considered for this award based on their admission application. Departments and/or Faculty will define their own internal process for selecting recipients based on the eligibility criteria and allocation.
- Faculties may impose stricter eligibility criteria as appropriate.