Bursary Vs Scholarship: Definitions, Types and Benefits

Studying abroad comes with a very high cost which some students cannot afford by themselves. Hence, scholarships, grants and bursaries are provided to selected students to ease their burden so that they can actively focus on their studies.

A scholarship is a merit-based award given for academic or extracurricular excellence, whereas a bursary is a need-based grant awarded to students facing financial hardship. Both bursaries and scholarships are amounts of money granted to students to complete their higher education abroad. These amounts are non-repayable, provided under different conditions and follow different selection parameters. This way, both scholarships and bursaries are similar and dissimilar to some extent.

This article contains in-depth details on the differences between scholarships and bursaries. We will also cover similar topics such as bursary vs. scholarship, types of scholarships and bursaries and how bursaries work. But first, we will read about what scholarships and bursaries are.

What is a Scholarship?

Scholarships are financial aid awarded to students with proven extraordinary academic performance. College/university, governments, or external organisations offer scholarships. It means that you do not have to repay any amount of the scholarship

Types of Scholarships

Partially-funded and fully-funded scholarships are two types of scholarships.

• Partially funded scholarships provide financial aid towards the cost of tuition and other expenses.
• Fully-funded scholarships cover the complete tuition fees of the students. They provide funds towards the living expenses of students also.

Check the complete list of study-abroad scholarships here.

What is a Bursary and How Does it Work?

“What does a bursary mean?” remains a common question among students willing to pursue their higher education abroad. A bursary is any financial aid provided to students who would otherwise not be able to support the cost of their education.

Bursaries are non-repayable and allocated based on the financial need and/or merit of the applicant. Just like some fully funded scholarships, a bursary covers the living expenses, cost of studying and miscellaneous costs.

The bursaries are awarded either by the government, universities/colleges or private organisations to support students from economically weaker sections.

Difference Between Scholarship and Bursary

The differences between bursary and scholarship are given below.

Application Timelines of Scholarships and Bursaries

The application timelines of scholarships and bursaries operate on completely different schedules because they serve different purposes.

Generally, all academic years of higher education institutes abroad begin in September or October of the academic year. The application timeline for scholarships starts 10-12 months ahead of this period, while for bursaries, applications begin 2-4 months prior to the start of classes. Here's a brief explanation of how the applications work for both for Indian students aiming to study abroad:-

• Scholarship Timelines (Aligned Far Ahead): Because scholarships are highly competitive, their timelines are shifted 10 to 12 months ahead of the actual academic intake. For a university term starting in September/October, major international scholarship applications open around July to August of the previous year - with deadlines closing between October and November of the same year. However, contradicting these timelines, some of the most prestigious scholarships also open during January to March of the academic year in which the classes are supposed to start. This allows university committees time to review portfolios, conduct interviews, and announce awards concurrent with or shortly after sending academic admission offers.
• Bursary Timelines (Aligned Close to Intake): Because bursaries evaluate a student’s current financial hardship, their applications open much later - typically 2 to 4 months prior to the start of the semester. Many universities even keep bursary applications open after the academic year has begun or offer "rolling" emergency bursaries - allowing students to apply mid-term if their family financial situation suddenly changes.

What are some common Bursary Sources?

Unlike merit-based scholarships, bursary pools are specifically funded by entities committed to socioeconomic equity, financial accessibility and student retention. Here are some of the primary sources of bursary funding:-

1. University Financial Aid Endowments:- The primary source of bursaries comes directly from institutional university budgets. Universities allocate a portion of their tuition revenue to internal need-based hardship funds to ensure students from lower-income families/backgrounds do not drop out due to unexpected financial crises.
2. Government Student Support Authorities:- National and regional education boards offer statutory bursary frameworks. Prime examples include the 16-19 Bursary Fund in the UK or regional student assistance portals like OSAP in Canada which supplement basic student loans with non-repayable maintenance bursaries.
3. Corporate CSR & Industrial Sectors:- Many corporate entities establish specific bursary funds as part of their Corporate Social Responsibility (CSR) mandates. These are heavily targeted toward underrepresented or low-income students pursuing intensive vocational or high-cost STEM disciplines (such as medical, accounting or engineering fields).
4. Philanthropic Trusts & NGOs:- Non-profit charities, regional community trusts and private family foundations frequently step in to fund niche bursaries. These funds are often allocated based on precise localised, religious or socioeconomic criteria to assist marginalised student populations

Also Read:

• Fully-Funded Scholarships in Ireland
• Merit-based and need-based scholarships
• Scholarship Interview Questions with Answers to Study Abroad

This was all about a bursary vs. a scholarship, bursary scholarship. If you have any doubts, feel free to drop your queries in the comments below.