I would be very disappointed if they don't want it back, or at least suspend it if you decide to interrupt for a year. This is taxpayers' money, by not using it you are depriving another student of that money. Where I work with the universities with students who are on bursaries, the bursary stops if they are not studying. Leaving it until October is too late, IMO - entry for the programmes I'm involved with closes on 5th September, at which point the money for the fees is handed over. You need to do it now, if you are going to.