Scholarships and Bursaries
A scholarship is a sum of money awarded to a student in order to help him or her further their education. Scholarships are gifts that don’t need to be paid back, this money can come from a number of sources. There are scholarships provided by governments, corporations, universities or any organization with a little goodwill and some extra money.
Its important to note, although scholarship is a “gift”, it isn’t a loan and it’s definitely NOT jut free money. Most organizations that offer them consider them an investment rather than a gift with strings attached. As an example athletic scholarships come with expectations of maintaining a certain grade point average as well as performing on the field.
A bursary is a monetary award that is granted on the basis of financial need. Bursaries are different than a scholarship. Scholarships are merit-based and are awarded for academic achievement. Bursaries are financial-need based awards that do not have to be repaid.
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