tax free scholarship

Any one with helpful hints on scholarship money??

I have been invited to apply for a index linked tax free sholarship to the value of around $30 pa for 3 yrs if (and a big IF) I am a successful applicant.
You are only allowed to worked approx one day per week while on this scholarship.
So my income will dramatically be reduced from $85K down to maybe $10-15K pa earning and the tax free money. Does this mean my income is now considered $10 - 15K or around the $45k mark???
Any tips on eligibilty for centerlink payments for the first time in my life.
Children under 12yrs hubby earning $90K.
Thanks
 
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