The filmmaker set up the Jai Ho Trust for Azharuddin Mohammed Ismail, 11, and Rubina Ali, 10 after their starring roles helped the film set box office records worldwide and scoop eight Academy Awards.
Last month (Oct09), reports surfaced the pair was in danger of losing its monthly allowance because the kids had been skipping school upon returning to their native Mumbai, India.
And now director Boyle is cautiously waiting to deliver a lump of cash to the stars in case they don't graduate, according to Slumdog actor Anil Kapoor - who donated his salary from the film to the cause.
He tells the New York Post, "The majority of the money will be held back until they have finished their education."
Boyle encouraged the pair to get back into the classroom last month, adding: "We are disappointed that Azhar and Rubina's school attendance remains patchy. We have urged both families to honour their commitment to ensure regular school attendance."
In addition to the allowances, both children have been provided with new homes by the trust, after it was revealed Ali's shanty home had been destroyed.