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Which is better a bursary or a student loan?


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Do you know the difference between a bursary and a student loan?

A bursary may seem like the first choice for cash strapped students but it may not always be the easiest to obtain and students need to consider all their options.

Who would benefit from a bursary or a loan?

Bursaries are generally aimed at underprivileged students and high achievers. They are designed to offer financial support to individuals who want to study full-time.

On the other hand student loans are aimed at part-time or working students who are looking to supplement their income in order to cover their college expenses.

How do applications differ?

Both bursaries and student loans will have a set of requirements that applicants must meet in order to qualify for financial aid. However these requirements may differ slightly.

Where bursary administrators may look at the student's academic performance, financial institutions are more likely to request employee payslips or bank statements.

Sponsors and government agencies often receive thousands of applications from students who are forced to compete for the limited resources available. Whereas banks or private institutions are not limited in their capacity to provide financial assistance.

What are the conditions?

Again, both options will have conditions attached to the contracts.

For example students who receive bursaries may be expected to achieve a certain academic result for the duration of their course. Or they may be required to work for the sponsor after they have completed their studies.

The conditions of a student loan are largely linked to repayment options. Students will have to agree to the terms of their repayment plan before they can access the money.

There are obligations attached to financial contracts and students need to understand the agreements they are entering into before they sign on the dotted line.

By Cindy Payle - Portal Publishing

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Latest Bursaries

Dube TradePort’s Bursary Scheme is offering once off bursaries to students who are residents of KwaZulu-Natal (KZN) and interested in pursuing a tertiary qualification. 

Bursaries will be awarded to students studying the following disciplines:

Master Builders KwaZulu-Natal will be awarding bursaries to KwaZulu-Natal-residing students, to pursue their studies within the Built Environment sector (National Certificate/ Diploma/ Degree/ Apprenticeship/ other related qualification as approved by the Bursary Committee).

Opportunities to study in Hungary are available through the 2021 Stipendium Hungaricum.

The Hungarian Government is offering 100 scholarships to South Africans to study at participating public universities in Hungarian. The scholarship consists of Bachelor’s, Master’s and PhD scholarships.

All courses are taught in English.

The Municipal Council of Elias Motsoaledi Local Municipality invites applications for financial Assistance from well-performing matriculates who wish to further their studies at institutions of high learning.

Shortlisted candidates will be contacted – should you not receive feedback within 30 days, please regard your application as unsuccessful.

The MultiChoice 2021 Bursary Scheme is now open and we are looking for driven, accountable and lateral thinkers currently studying towards select degrees.

Degree or qualification MultiChoice will sponsor:

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