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Bursary Award: What It Means, How It Works

By

澳洲幸运5官方开奖结果体彩网:Julia Kagan

Updated October 29, 2024

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Ebony Howard

Fact checked by

Skylar Clarine

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Definition

If you have a child attending university in the United Kingdom or Canada, a bursary award may help significantly defray costs. These non-repayable grants are typ🐟ically based on fin🐽ancial need and can make education attainable for those that otherwise could not afford it.

What Is a Bursary Award?

A bursary award is a type of financial payment provided to certain students or prospective students to assist with the costs associated with attending a college or university, primarily in the United Kingdom and Canada. Unlike a stude꧙nt loan, a bursary award, or👍 simply a bursary, is given to students based on financial need and are somewhat similar to scholarships awarded by American universities.

Key Takeaways

A bursary award is a monetary grant given to eligible or prospective students by an educational institution, such as a university.
Like scholarships in the U.S., bursaries are a way for students in the U.K. and Canada with financial hardship to pay for higher education.
Bursaries must be applied for, with special consideration given to those with the greatest hardship, in addition to members of underrepresented and underserved social groups.

Understanding Bursary Awards

Bursary awards are part of the Canadian and United Kingdom financial aid programs. Bursary awards aren't repaid and are used to provide certain students with money to cover gaps between the amount of financial aid they need to attend school and any available government assistance that they're eligible for.

Unlike merit 澳洲幸运5官方开奖结果体彩网:scholarships, t🐭hese awards are given on the basis of financial need, making them quite different from scholarships, which♓ are tied to academic achievement.

These types of awards are most o🍌ften funds that have been donated by companies, private donors, foundations, and as part of government funding. Many bursarꦗies have additional criteria tied to them alongside the financial need component.

There are also bursary awards specifically geared toward students with disabilities, and some schools offer emergency bursaries for international undergraduates. Academic advisors in the financial aid departments of colleges and universities can assist with a 澳洲幸运5官方开奖结果体彩网:student's search for appropriate bursaries.

Applying for Bursaries

Students must complete and submit an application to be reviewed by a bursary committee. Each mem♌ber of the committee will read ꧑through the application and make a recommendation based on its merits.

Deadlines are important, as late applications won't be considered. Bursaries are often handed out to students with the greatest financial need. Prospective students may apply for entrance bursaries, while continuing students can also seek bursary awards.

What Is the Difference Between a Scholarship, an Award, and a Bursary?

Scholarships, awards, and bursaries are very similar resources that students can receive to help pay for the cost of higher education, none of which need to be paid back. And while the specific definition and criteria for each may differ from country to country or institution to institution, there are generally some standard distinctions. Scholarships are primarily merit-based, meaning they're awarded based on a student's 澳洲幸运5官方开奖结果体彩网:academic record. Award🎃s deal with additional criteria outside of the academic field, such as leadership in a community, and bursaries are based on financial need.

Do I Have to Pay Back My Bursary?

No, you don't have to pay back your bursary. A bursary is money given to you based on your financial need, as determined by the educational institution providing it, and doesn't need to be paid back like a loan would. You're not borrowing money.

What Are the Different Types of Financial Aid?

There are a variety of🍃 financial aid options for students who need help covering the cost of school. These include grants, scholarships, awards, bursaries, loans, and work-study jobs.

The Bottom Line

Bursary awards, like scholarships, help with the cost of higher education. They're paid on top of any grants or loans, and the university providing them decides how much an individual needs. Bursaries are paid directly to the student.

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