Scholarship vs Bursary
Scholarship and Bursary are two types of financial aid given to students, and they show some differences between them when it comes to their guidelines and application. A financial disclosure form has to be submitted by the student in order to get a bursary. On the other hand, scholarship is provided on the basis of the expertise or the proficiency shown by the student in the corresponding subject. This is the major difference between scholarship and bursary. A scholarship usually comes with no strings attached while a bursary can come with conditions. However, you will see that there are times when scholarships also expect something in return. There are other differences between scholarship and bursary too. It is mandatory for the student to know the various guidelines connected with scholarship and bursary.
What is Scholarship?
A scholarship is awarded to a student taking into account his or her performance, educational or otherwise. It is interesting to note that scholarship will take into account the grades awarded to the student in the previous levels of education too. Sometimes extracurricular activities of the student are also considered before disbursing a scholarship. As a matter of fact, there are different types of scholarship too, based on the nature of the institution, the financial condition of the institution, the merit of the student and certain sociological conditions too. It is important to know that each type of scholarship has to meet certain rules and regulations, and the student is expected to satisfy them.
Usually, a scholarship is given to admire the student’s skills. However, sometimes, some organizations offer scholarships with certain conditions. Especially, sports scholarships expect you to maintain a particular grade point average as well as good performance on the field. If not, they have the ability to revoke the scholarship. Some scholarships expect you to provide your service to the foundation that offers it once you have become a qualified professional. If the student is not willing to work in the organization during the agreed period, then he should agree to return the scholarship money at a later period.
What is Bursary?
A bursary is a financial aid given to students who have financial difficulties. It is important to know that bursaries are normally offered by various organizations including charity institutions. It is absolutely essential for the applicant in the case of a bursary, to provide financial details of the parents. Mean-tested bursary is awarded for the student whose family earns the lowest income per annum.
It is interesting to know that there is one more type of bursary that looks like a scholarship, and it is given on the basis of the performance of the student in examinations. Here too a student with the least financial background is selected for the award. This is another important difference between scholarship and bursary. That is why both the words are often misunderstood as words denoting the same meanings. You have to remember that here, though the bursary is given to the student with best results, his or her financial status is also considered.
Usually, the bursaries come with some strings attached. In some cases, the student has to execute a bond too willing to serve some organization. This can be during his or her education or after gaining the qualification he or she is studying for. A bursary is a non repayable grant. However, if a student takes a leave of absence or drops out then he or she may have to repay a percentage of the sum he or she got as bursary during that year.
What is the difference between Scholarship and Bursary?
• The purpose of a bursary is to provide financial support to a student, who is struggling to pay the fees.
• The purpose of a scholarship is to admire the talents of a student on his or her field of expertise.
• In other words, scholarship is for the students with skills whereas bursary is for the students who have financial struggles.
• Financial Status:
• For a bursary, the financial status of the student’s family is considered.
• For a scholarship, the financial status of the student’s family is mostly not considered.
• The Offering Party:
• Both scholarships and bursaries may be offered by universities, schools, or any other third party such as a foundation interested in providing an incentive for a student’s talent.
• Bursary usually comes with conditions such as agreeing to work for the organization that provides the bursary for a specific time.
• Scholarships also sometimes come with conditions such as working for the organization for a specific time and maintaining good grades.
• Paying Back:
• If you do not complete your education or take a leave of absence then you may have to pay back a percentage of the bursary that you got for that year.
• If you do not agree to the terms of the scholarship you have to pay back the money at a later period.
These are the important differences between scholarship and bursary.
- Scholarship by Northern Ireland Executive (CC BY-ND 2.0)
- University of the Witwatersrand by CC BY 3.0)