What is a bursary?

Types of Financial Aid

In a world of possibilities, universities and other private institutions lend a helping hand to exceptional international students to help them financially to achieve their dreams.  Some types of funding avenues that are available to you are 

• Scholarships

• Bursaries

• Grants

• External 

• Scholarships

Scholarships are a form of financial aid awarded to students to help further their education. These special financial grants are offered by governments, corporations, universities, or any organization that would like to invest in a student's future. Recipients are not required to pay back the scholarship amount like a loan but are required to continue to meet specific requirements during their academic year. This could mean maintaining a grade point average or engaging in a certain activity for athletic students. 

There are several kinds of scholarships, and each of them has separate criteria. Some popular criteria are academic merit, athletic skill, financial need, diversity, and inclusion. Scholarship criteria usually reflect the values of the donor or founder of the award. 

• Bursaries

These are awarded to anyone who is in financial need or has the academic qualifications. These are much smaller amounts that are given only by the universities.

• Grants

Grants are usually need based and not offered by all institutions. Research students usually are eligible for this type of financial aid.

• External

These are scholarships / grants / loans awarded by a third party ( agency or organization )based on need or academic performance. These are offered by either government or non government organizations.