What is the difference between a bursary and a scholarship? In this article, I will show you the major differences between bursaries and scholarships including their similarities.
What is scholarship and how does it work?
Scholarships are a type of financial aid that students can get based on different factors. It is a type of financial help that doesn’t have to be paid back. It could come in the form of lower fees, money to cover tuition, housing, maintenance, books, transportation, and even more. The perks of each scholarship are different. A scholarship might:
- both based on skill and on need,
- designed for a certain type of student,
- designed for students from one country,
- scholarships for women,
- or given to students in a certain course or degree program.
Scholarships are offered by almost all universities, groups, and government agencies. When students apply for courses at universities, they are often taken into account. Sometimes, students need to fill out a separate form to get a scholarship.
SEE ALSO: QUT Equity Scholarship Grant in Australia
What is a Bursary and How Does it Work?
Bursaries are another type of financial award that universities give to students who need help paying for college but still want to go to school. Universities give out bursaries to students who need the most help, such as those from low-income families or with other special needs. A bursary may also help pay for living costs. Students who want to go to college have to apply for different bursaries. Bursaries are given out by universities, colleges, specific departments within universities, the government, and other institutions.
SEE ALSO: Ned McWherter Scholarship Program
Difference Between a Bursary and a Scholarship
|Bursaries are majorly need-based monetary awards.||There are many various types of scholarships for students who want to go to college, such as merit-based, merit-plus-need-based, talent-based, etc.|
|Bursaries give money to pay for school and sometimes a one-time payment to help with living costs.||Scholarships can automatically cut the cost of tuition or pay for it all. They can also give discounts and pay for living costs on an annual, term, or one-time basis.|
|On the other hand, bursaries are given to students based on how much money they need. This means that the bursary would go to the student who needs it the most.||Students can get scholarships based on how well they do in school or how well they do in sports, music, etc. Universities also give out scholarships based on needs.|
Similarities Between Scholarship and Bursaries
- Both scholarships and bursaries can be for specific groups of people, like students with special needs, women, students taking a certain course, students from a certain culture, country, or ethnic group, etc.
- Universities and colleges can use their own money to give out both scholarships and bursaries. Both can also be provided by governments and other outside groups.
- Both scholarship and bursaries can serve as financial assistance to students or anyone who need it.
Frequently Asked Questions
Is a bursary the same as a scholarship?
Yes, bursary and scholarship are the same things
What are scholarships, bursaries, and grants? People often use the words “scholarship,” “grant,” and “bursary” interchangeably, and that’s because they all mean the same thing: you get money that you don’t have to pay back.
Why is a scholarship better than a bursary?
Both scholarships and bursaries pay for a student’s education based on how well they do in school and how much money they need. On the other hand, scholarships are more likely to give money to students with good grades, and bursaries are more likely to help students who are struggling financially.
What is the purpose of a bursary?
Bursary awards don’t have to be paid back, and they give money to some students to cover the difference between how much financial aid they need to go to school and how much they can get from the government.