Can you tell the difference between scholarships, grants, and bursaries?

There are three forms of monetary help while studying across the world; bursaries, grants, and scholarships which all offer support through financial assistance for students who submit their applications for it. These three forms are different and this difference consists in the ways in which they are awarded and how they are decided. Here’s what you should know about them.

Bursaries

A bursary is usually an amount of cash awarded to students based on the financial support they can get from their parents. Meaning, students whose parents gain below a certain point will be awarded to receive the amount unlike the students whose parents earn above a certain threshold. The bursary must not be paid back.

How can you get one?

Whether you are applying for a bursary in the UK, the US or any other region, applying for a bursary must be made through the university’s website. However, it is important that you visit first the eligibility requirement section and other regulations about applying for a bursary. Not only the universities are offering bursaries, as well charities, the government, and other private institutions are entitled to offer bursaries.

Scholarship

Scholarships are usually offered based on academic excellence, whether we are talking about academic, sporting, or other talent. A scholarship is usually a reduction in tuition fees, or extra money to assist with living costs. Scholarships can be awarded to a fantastic singer or a football player. If your grades are exceptional, you might be able to seize a scholarship opportunity which awards students who have scored high grades.

How can you get it?

All universities have an application process and for a practical scholarship, you might have to audition or take a test in order to prove your talents. It depends on one university to another. Of course, your scores and academic level will make a difference.

Grant

Grants are usually offered for specific purposes such as studying abroad or undertaking research which costs quite an amount. Grants usually come from the university and will be offered based on your cause, if it is or not worth investing in. The motifs based on which you are submitting the application for a grant are really important and make a difference which will secure you a place among the winners.

How can you get it?

Submitting your application for a grant means that you will have to upload your piece of research to the awarding officer. You might have to have an interview just so the provider will know how do you plan to invest the amount in your future.