What is the difference between a scholarship, award and bursary? Scholarships are awarded based on academic merits, such as achieving a certain grade point average (GPA). Bursaries are granted based on financial need. Awards are granted based on various criteria, including leadership and community involvement.
Is a bursary a reward?
A bursary award, or simply a bursary, is a sum of money given to students based on financial need and/or academic performance. A bursary award is provided to the student by the educational institution and is similar to scholarships awarded by American universities.
What is difference between bursary and scholarship?
What is the difference between a Bursary and a Scholarship? A scholarship is a financial award granted to a student on the basis of the student’s academic or sporting excellence. A Bursary is a financial award granted to a student on the basis of the student’s financial neediness.
What bursary means?
ˈbərs-rē plural bursaries. : the treasury of a college or monastery. British : a monetary grant to a needy student : scholarship.
What is meant by academic award?
academic award means an award conferred by an institution of tertiary education in recognition of achievement in a course conducted by the institution: Sample 1. academic award means a degree, diploma, certificate and other certification of academic achievement awarded by the College; Sample 1.
What is a university bursary award?
A bursary is a financial award that you use to pay for your education. A bursary is not the same as loans. A bursary is money that does not need to be paid back. When you receive a bursary, it is because of your own hard work and dedication to your studies.
How does a bursary get paid?
It might be paid into your bank account, in lump sums or in instalments during your course. You may also be given a cheque or cash. It might also be paid to you ‘in kind’, which means that instead of receiving money, you could get a public transport travel pass, free meals or course equipment.
Is award same as scholarship?
A scholarship is an award of financial aid for a student to further education. Scholarships are awarded on various criteria usually reflecting the values and purposes of the donor or founder of the award.
Is an award different from a scholarship?
Award is not required to be used to defray cost of student’s educational expenses. The prize award may not be treated as a scholarship and therefore the entire amount of the prize is taxable and reportable. Example: A competition is held and prizes for 1st, 2nd, and 3rd places are awarded to students.
Why do students apply for bursary?
University is expensive, which is why many students apply for bursaries and scholarships to help ease the burden of tuition.
What is an example of bursary?
Example: a bursary that provides funds for one year may require one year of work while the degree is being completed or after the student receives a degree. Bursaries are usually issued by colleges or universities, but they may be offered by independent organizations as well.
What happens when you get a bursary?
Bursaries allow you to further your education and study any course you would like. A bursary could cover half or all your study fees. It could also cover your transportations, housing, study material and living expenses. Doing some research will help you find out what your bursary provider covers .
What are the types of bursary?
A minimum overall grade point average e.g. 60%.
What is a bursary?
- Fixed/Capped bursary (tuition only);
- Top-up bursary ( based on student’s needs);
- Partial bursary (tuition & books);
- Full bursary (tuition, accommodation, meals, books, etc).
What an award means?
1. : something that is conferred or bestowed especially on the basis of merit or need. a film that has won several awards. : a judgment or final decision. especially : the decision of arbitrators in a case submitted to them.
What are three types of awards available to students?
Graduation with Academic Distinction
Summa Cum Laude — is awarded to candidates whose grade-point-average is 3.900 or higher. Magna Cum Laude — is awarded to candidates whose grade-point-average is 3.700-3.899. Cum Laude — is awarded to candidates whose grade-point-average is 3.5000-3.699.
What is called award?
An award, sometimes called a distinction, is something given to a recipient as a token of recognition of excellence in a certain field. When the token is a medal, ribbon or other item designed for wearing, it is known as a decoration.
What does student award mean?
The award recognises outstanding individual achievements or contributions to an aspect of school or community life. Students can be nominated for the award for a number of reasons, including: Exceptional academic achievement. Outstanding effort. Commitment to a charitable cause.
What does award mean in scholarship?
Definition: Financial support based on achievement, performance, or other criteria. The grantor does not specifically state that the money should be used for educational expenses.
What is award in financial aid?
Once a college admits you—and crunches the numbers you provided on your financial aid applications—it will offer you a “financial aid package” (sometimes called an award). In this package are different types of aid intended to meet all or part of your financial need for one academic year.
What can I spend my bursary on?
A bursary is money that you, or your education or training provider, can use to pay for things like: clothing, books and other equipment for your course. transport and lunch on days you study or train.
What is a bursary amount?
A bursary is a monetary award made by any educational institution or funding authority to individuals or groups. It is usually awarded to enable a student to attend school, university or college when they might not be able to, otherwise. Some awards are aimed at encouraging specific groups or individuals into study.