Schools, universities, and different foundations often launch programs and funds to encourage and help the youth. These funds include various terms such as bursary, scholarship, grant etc. Now you may ask what the difference between these and what are the requirements of getting them are. Therefore this article will discuss the differences between bursaries and scholarship.
Bursary vs Scholarship
The main difference between bursary and scholarship is that bursary is monetary support to the students who are unable to afford education, whereas scholarship is a monetary award given to students who are possessors of great merit or exceptional talent. The bursary aims at helping out financially backward students, and scholarship intends to encourage and award talented individuals.
A bursary is a monetary help that is provided to the students whose family is struggling financially and incapable of paying the school fees. A bursary is provided by many sources, such as schools, universities, foundations or NGOs. The main purpose of bursaries is to help out the unprivileged families and their kids to get educated.
Scholarships are for awarding students who are bearers of extraordinary talent and merit. The purpose of the scholarship is to encourage young minds who are full of opportunities and to give them the fuel they need for the future. The financial background of the students has zero significance in scholarships.
Comparison Table Between Bursary and Scholarship
|Parameters of Comparison||Bursary||Scholarship|
|Definition||A bursary is an economic aid that is provided to unprivileged families.||The scholarship is provided to students who possess exceptional talent in an area of expertise.|
|Purpose||The bursary aims to help students who are struggling to pay fees.||The scholarship is for students who are gifted in terms of education.|
|For whom||It is for students who are financially incapable of paying their fees.||This is for students who are scholars in an area of education.|
|Area of consideration||The financial status of the student is the main consideration of the bursary.||The skills and merit of the student is the main consideration of the scholarship.|
|Paying back||Some bursaries may claim a certain percentage of the provided fund returned once you get a job.||Scholarships are non-refundable awards.|
What is Bursary?
Not every family is well off financially, and that does not mean they are not entitled to get an education. A bursary is a financial aid that intends to help out such students. This help is offered by various charity foundations and organizations as well as universities and schools.
To get a bursary, the candidate has to belong to a family who is lacking money. In order to be competent to get this aid, the candidates must present the financial details of his/ her parents. Among all the applications, people who earn the least amount of money will get this aid.
One type of bursary is given based on the marks obtained by the students, but belonging to a poverty-stricken family remains a must condition. This type of bursary often gets confused with the scholarship. In usual cases, students get to sign a bond according to which they are accountable to pay back a certain percentage of the bursary money once they become financially independent.
What is a Scholarship?
The scholarship is based on the merit and skills of the students in the area of education or other fields. Not only the current grades and marks but the performance in the previous classes are taken under consideration as well. In a few cases, extracurricular activities also get discussed.
Different scholarships have different demands and rules, and students must meet those all in order to be eligible to receive the scholarship. It is a kind of award that students receive as an award for their talent. They receive scholarships as a gift for their giftedness.
However, you are expected to serve the foundation from which you got your scholarship in some ways to encourage the young talent after you have established yourself as a professional. In case the student is not interested in doing so, then he/she is expected to return the scholarship money.
Main Differences Between Bursary and Scholarship
- A bursary is an economic aid that is provided to the unprivileged families who are not being able to make ends and do not have the money to pay the fees of school or universities. On the other hand, scholarship is provided to the students who possess exceptional talent in an area of expertise.
- Bursaries look into the financial state of the students, whereas scholarships do not take the financial condition of the student under consideration.
- Bursary intents to help students who are struggling to pay fees, but scholarship is for students who are gifted in terms of education.
- Bursaries are given based on the economic condition of the student’s family, whereas scholarships are provided based on the merit of the student.
- Bursaries can be categorized as aid, but scholarship is more like a gift or award.
- One does not need to pay back scholarship money, but some bursaries might come with the contract, which will demand you to pay back the money once you get a job.
Money expresses support as well as a gift. No matter however it is taken and given, it will always be meant to fulfil the need or desire. Some people need it to fulfil their bare minimum, whereas others need to satisfy something beyond their primary needs. Many organizations and foundations come forward to help needy people, and they also encourage young minds to leap for the extraordinary.
Both bursary and scholarship include money, but their purposes and conditions differ from each other. A bursary means to support or aid, and a scholarship is a gift. One needs to achieve a scholarship, but a bursary is given away to help out the families who can not pursue the education otherwise.