Scholarships and Bursaries: A Basic Guide

University life is unarguably the most thrilling experience for any student. With a whole lot of undefied determination and sky-touching ecstasy, you conduct your walk through the very first doors of professional education.

But what if you’re told the heightening educational fees and expenditures can quickly depose this energy? What would happen when you realize that student loans can’t run that long and that you might soon run into debt?  While working part-time can be an option, it can be just as stressful. You might then want to reconsider your finances and affordability. Scholarships and Bursaries, for this reason, are the right type of extra funding you require to meet your financial needs without the pressure of repayment.

Often used interchangeably, Scholarships and Bursaries stand for two different types of funding you can choose from when wanting to receive extra financial assistance for your academic stay. With very little difference between them, both types require specific prerequisites met. Once eligible, you can be paid all-at-once or periodically throughout your academic term.

Bursaries are set up by both public and private organizations and are usually provided on a financial basis. This type of funding is reserved for students who meet the desired academic criteria, though it can also be given on the grounds of-testing.

On the other hand, scholarships are usually given as a reward to students who have performed exceptionally well in academics or extra-curricular fields. Depending on the area of distinction, students can receive scholarships including, but not limited to:

 

While one could argue that scholarships and bursaries are open to anyone, it is of high importance to understand that these grants require certain criteria to be met before being endowed. Through a decent amount of research and inquiry, you can learn all the essential basis of scholarships and bursaries at your desired university or in your specific subject area, along with their standards of eligibility. 

 

However, there has been an increasing number of “open-to-all” scholarships granted by companies looking for student engagement on their brands without considering your place or field of study. This means that although every student will not have the fortune to receive a scholarship, there will at least be scholarships that every student can apply for.

Finding a university scholarship or bursary in the UK is not that difficult since hundreds of them are available and ready to be awarded. If you are a fresh year student with little to no knowledge of scholarships and bursaries, here are a few tips you may find helpful during your course of search:

Start with your chosen university to find out whether they offer scholarships and bursaries or not. You may find such information on their websites or prospectuses. In case they don’t provide direct scholarships, they might provide guidance on where you can receive the apt scholarship or bursary you have been looking for. Besides, you can also approach your local education authority for the same purposes.

Look for scholarship and bursary offerings at leading market businesses and companies, governmental organizations, or not-for-profit foundations as they currently form the hub of scholarships, bursaries, and grants.

Refer to UCAS. Look for grants offered at your desired university, or in your specific subject of interest. Also, if your chosen institute is a university college, look for scholarships offerings in all its constituent colleges.

Now that you’ve found the scholarship or bursary of your choice, the next step is to apply. To gain all sorts of application details, approach your institution’s customer service department or seek help from prominent figures in your chosen field of study.

First things first, know where to lodge your application, get briefed through the whole process, learn the deadline, and know the documentation you are required to keep ready to make a successful application.

You can also attend university open days, receive one-to-one assistance, and have all your finance-related ambiguities cleared. Learn the rule: the earlier you apply, the better. Remember, there are thousands of applicants, and the funds don't wait for long; apply as early as you can. If required, write a convincing personal statement or prepare for an interview when called for.