Scholarship vs Bursary 2024

Many students dream of pursuing higher education without worrying about the finances. Don’t worry; we are here to help you educate about the two types of financial aid which can be provided to a student to turn their dream into a reality! Maybe these two financial aids are similar in their motive but still stand distinct for bursary vs scholarship. So grab a pen and paper to learn about the main difference between bursary vs scholarship. Let’s get started with scholarship vs bursary in 2023.

What is a Scholarship?

Scholarships are a type of assistance awarded to students who have demonstrated academic performance. They serve as a form of aid that does not require repayment and are typically offered by universities or government entities. Scholarships may encompass benefits such as reduced tuition fees, funding for housing expenses, textbooks, transportation, and other related costs.

What is a Bursary?

A bursary is a financial support program granted to students who do not have money to pay for their studies. You must have heard the concept of loans, where we have to pay back the amount in a given duration, but here, you don’t have to pay back. They are usually awarded based on financial need, academic excellence, or both. Bursaries usually cover tuition fees, living expenses, or other academic costs. They are often awarded by educational institutions, governments, foundations, or corporations to support students who are in dire need of finances and may not be able to afford higher education.

Difference between Scholarship and Bursary

Though the difference between scholarship and bursary may be different, but have some similarities, and they do carry their benefits and purposes. Let's start with their types!

Types of Scholarships

• Sports scholarships 
• Music scholarships 
• Personal circumstance scholarships
• Vocational scholarships 

Types of Bursaries

• Personal circumstance bursaries 
• Bursaries based on grade achievements 

NHS is a type of bursary in the UK. To know more about what you receive if you apply for an NHS bursary, check out this blog on NHS bursary.

Benefits of Bursary vs Scholarship

Scholarships usually provide an automatic reduction or full coverage of tuition fees and may also include discounts on living expenses through yearly, term-based or one-time payments. In contrast, bursaries provide funds to cover educational expenses or one-time payments to aid with living expenses. 

Regardless of their distinct purpose, scholarships and bursaries share several advantages, including:

• Reduces financial stress
• The capacity to concentrate on education without worrying about income
• Evidence of your hard work and determination
• Recognition of your achievements, enhancing your resume

Who offers Scholarships and Bursaries to Students?

Both universities and colleges can provide scholarships and bursaries using their resources. Additionally, governments and external organisations may also provide both scholarships or bursaries, which are forms of financial assistance.  

It is uncommon for universities and colleges to offer scholarships and bursaries using their financial resources. In addition to their internal awards, governments and external organisations may also offer scholarships and bursaries to eligible candidates.

Eligibility Criteria for Scholarships

The eligibility criteria for scholarships include various dynamics, such as academic achievements and excellence, financial need, community involvement, and more. Understanding and analysing the specific requirements for each scholarship can guide you to determine which ones you're eligible for and increase your chances of success.

1. Academic Profile

Scholarships are typically awarded to students depending on their background, including grades or outstanding performance on tests. In order to qualify for a scholarship, it is often necessary to maintain a GPA or fulfill academic criteria that enhance your overall academic profile.

2. Field of Study

Some scholarships are field-oriented. For example, you might need to study in a particular area like sports, languages and other academics to be eligible for some scholarships.

3. Citizenship or Residency Status

Citizenship often plays a major role in finding the eligibility criteria for scholarships. There might be a few cases where you may need to be a citizen or a permanent resident of a country.

4. Extra-curricular Activities 

Certain scholarships consider activities other than academics, such as involvement in community service, sports, or artistic accomplishments. If you actively participate in these areas and have a track record, you might fulfill the eligibility criteria for scholarships.

5. Grade Level

Some scholarships are exclusively awarded to students who fall within specific grade ranges, such as high school seniors or graduate students.

6. Essay or Interview Requirements

In some cases, you are asked to write an essay or participate in an interview. Make sure you go through the eligibility criteria for each scholarship carefully and be prepared for it.

7. Demographics 

Many times, students can apply for scholarships internationally. However, some scholarships are usually provided to students from specific countries or even backgrounds, like minority groups.

Eligibility Criteria for Bursaries

Similar to scholarship criteria, there are several factors responsible for fulfilling the eligibility criteria for bursaries. For this criteria, you need to check their academic achievements and financial status. Below are some requirements mentioned for each bursary you should be eligible for.

1. Financial Need

Bursaries are commonly awarded to students who demonstrate need, which could be due to having a family income or facing other financial challenges. To qualify for a bursary, you may be required to submit supporting documents, like tax returns or bank statements, that serve as proof of your circumstances.

2. Field of Study

Some bursaries are oriented to fields of study. For example, you may need to be studying in a particular area, such as science, technology, engineering, or mathematics (STEM), to meet the eligibility requirements for some bursaries.

3. Residency Status

Citizenship holds importance when it comes to qualifying for scholarships. For residency status, you are required to be a citizen of the country.

4. Extra-curricular Activities 

Some bursaries take into account your participation in extra-curricular activities such as community service, athletics, or artistic achievements. 

5. Age

Sometimes, a bursary may be granted to you only if you fall within a certain age range, such as high school seniors or graduate and postgraduate students.

6. Income

While applying for some bursaries, you may cross the factor that only students from families having a significant income level can apply for bursaries.

Tips on Applying for Bursary vs Scholarship

Applying for a bursary vs scholarship can be quite competitive as there are often a number of applicants competing for a number of awards. To assist you in setting yourself up from the rest and improving your chances of receiving a bursary vs scholarship. Below are sorted tips on applying for bursary vs scholarship:

1. Start Researching Early

When it comes to applying for bursary vs scholarship, it's crucial to begin your research in advance. The application procedure can take a lot of time, so it's important to give yourself time to gather all the information, fill out the application forms, and submit everything within the given deadline.

2. Research your Options

Before you start applying for any bursary vs scholarship, it’s important to do your research. Take the time to explore all the options and create a list of bursary vs scholarship that align with your eligibility. You can check out these free study abroad postgraduate scholarships in 2023 to kick-start your research process.

3. Read the Eligibility Criteria

Read the eligibility criteria for each bursary vs scholarship. Make sure that you fit all the requirements before applying and have all the necessary documents to support your application.

4. Prepare a Strong Application

When applying for a scholarship vs bursary, you need to make sure that your application is exceptional. This means preparing a strong application showcasing your achievements, goals, and potential to get selected for any one of bursary vs scholarship.

5. Get Letters of Recommendation

The majority of scholarship vs bursary applications require letters of recommendation from professors or other professionals who can vouch for your abilities and potential. 

6. Proofread your Application

Before you submit your application, just proofread and check for spelling and grammatical errors to check every information is accurate in your bursary vs scholarship application.

7 Follow Up After Submitting your Application

After you have submitted your application it's necessary to reach out to the selection committee and confirm whether they have received your application for bursary vs scholarship.

Can I Apply for both Scholarship vs Bursary simultaneously?

Absolutely, it is completely fine to apply for both a scholarship vs bursary. It's always a move to explore all the avenues for financial support when pursuing your education. However, I do advise you to exercise caution and thoroughly review the eligibility criteria for each scholarship vs bursary. Take your time to analyze the requirements before submitting your applications. Another important aspect is being mindful of any application deadlines. Make sure you allocate time to prepare and submit your applications while also dedicating some time to proofreading them. This way, you can ensure that your bursary vs scholarship applications are in shape before submission.

Scholarships and bursaries have an impact on supporting students who are pursuing education. These types of aid are advantageous for students because they enable them to concentrate on their studies and fulfill their potential without being overwhelmed by concerns. By the way, Amber is here to assist you in fulfilling your aspirations of studying! Amber Scholar will offer scholarships of up to £10,000 to a handful of individuals who have what it takes. So do not miss out on this great opportunity – apply for Amber Scholar today and unleash your true potential!