Bursaries and Scholarships: The Lowdown
Studying a degree is expensive, but, fortunately a lot of this you can pay back later over a long period of time. During your studying you are also able to get a little more of extra help from bursaries and scholarships, the amounts you are entitled to depending on your household income, and this can stretch a long way. Bursaries and Scholarships are usually the same thing under different names.
Bursary and Scholarships
A bursary is money paid to you that you don’t have to pay back. It is a type of grant, giving you the extra funds to enable you to study at university or college. There are lots of different type of bursaries, and you can get them from different departments. The main bursary will be from your institution, and it is based on your household income. This is where your university looks at your information from the details you gave to Student Finance of what money comes in to your household or what your parent’s make and then decide if you need extra help. If you do, it will be paid to you – sometimes split into three and paid near the time of when student finance is paid into your account, at the beginning of each term, or in one single payment.
The most popular scholarship is the National Scholarship Programme which gives money to people who are on a low income. It is awarded to students whose household earns less than £25,000. It is usually given via; a cash bursary of up to £1,000, help with tuition fees and accommodation, and or a free foundation year, a programme or course to help students meet the criteria to take a degree course. If you have been notified by your university or college that you are part of this programme, then the money will be paid directly into your account. This is on top of Student Finance so don’t worry about it affecting your Loans, grants, and applications made previously. The way it is paid into your account will depend on the institution and they will inform you on when it is due. If you want information about when and how to apply, contact your university.
Local- authority care
If you are leaving local authority care you can ask for a bursary of up to £2,000. This can come from your local authority or the university or college you will be attending. You will need to speak to both to see where it will be coming from, and how to apply.
Some scholarships are obtained my competition, and this may mean a place or spot on a course at university. The university will tell you if there are limited number of spaces on the course, or that you can get money off of tuition fees if you attend an interview, and/or go through a testing process, and they will inform you whether you have successfully received the scholarship.
Each university has their own rules about bursaries and scholarships, so it doesn’t mean you will be guaranteed to receive one. There are lots of different bursaries and scholarships available and if you are unsure, contact your university and they will let you know the different types they offer and how to apply.