Bursary Vs Scholarship: Definitions, Types and Benefits
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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.
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 in some extent.
This article contains in-depth details on the differences between the scholarships and bursaries. We will also cover similar topics such as bursary vs. scholarship vs. grant, types of scholarships and bursaries and how bursaries work. But first, we will read about what are scholarships and bursaries.
- What is a Scholarship?
- What is a Bursary and How Does it Work?
- Difference Between Scholarship and Bursary
What is a Scholarship?
Scholarships are financial aid awarded to students with proven extraordinary academic performance. College/university, government or external organisations offer scholarships. It means that you do not have to repay any amount of 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 covering complete tuition fees of the students. It provides 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.
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Bursaries are non-repayable and allocated based on the financial need and/or merit of the applicant. Just like some full-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 the students from economically weaker sections.
Difference Between Scholarship and Bursary
The differences between bursary and scholarship are given below.
| Bursary Vs Scholarship |
||
|---|---|---|
| Particulars |
Scholarships |
Bursaries |
| Payment |
The scholarship fund is auto-deducted for the payment of tuition fees. |
Funds are provided enough to cover the educational costs or one-time payments. |
| Other Benefits |
May provide discounts on certain one-time payments or living expenses. |
No benefits or discounts are provided. Enough funds are provided to cover the whole cost of studying and associated costs of living. |
| Nature |
Competitive |
Non-competitive, often called as “awards” |
| Offering Body |
colleges/ universities, government bodies, external organisations |
colleges/ universities, government bodies, external organisations |
| Types |
|
|
| Courses |
UG, PG, PhD and Professional Courses |
UG, PG, PhD and Professional Courses |
| Eligibility Criteria |
Academic Excellence |
Proven Financial Need and/or Merit basis |
| Amount |
Varies according to the type of scholarship |
Covers the studying and living costs of studying abroad |
| Duration |
Varies, can last from a year to the entire length of your program. |
Initially for a short period (6 months to a year or for a semester), can be renewed if the financial need remains. |
| Repayable/Non-repayable |
Non-repayable |
Non-repayable |
| Application Mode |
By direct/indirect application through online official scholarship and university portals. |
By direct/indirect application through online official bursary portals. |
Also Read: Fully-Funded Scholarships in Ireland
This was all about a bursary vs scholarship. If you have any doubts, feel free to drop your queries in the comments below.
University of Lancashire and University of Nottingham are some of the most prestigious in UK and students across the globe desire to study here. In terms of tuition fee, University of Lancashire is more affordable. However, the Uni of Nottingham is lesser selective.
A comprehensive comparison between both universities:
| Parameters | UCLan | Nottingham Uni |
|---|---|---|
| Annual Fees (MBA) | INR 14 L - 19 L | INR 21 L - 32 L |
| Acceptance Rate | 22% | 11% |
University of Lancashire accepts country-specific qualifications from overseas applicants. Indian candidates who wish to pursue their higher studies from the university, must meet the University of Lancashire admission requirements for Indian students listed below:
Undergraduate Requirements:
- Higher secondary school certificate
- Overall score of 60% (80% for excellence scholarship)
- 60% - 70% in Standard XII English (IELTS 6.0 equivalent)
Graduate Requirements:
- Bachelor's or Master's degree in relevant field;
- Overall score of 58% in bachelor's degree (80% for excellence scholarship) or 55% in master's degree
- 65% - 75% in Standard XII English (IELTS 6.5 equivalent)
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