Embarking on a tertiary education journey is an exciting time for all students. Many of them often rely on external funding, such as bursaries to pay their university or college tuition fees.
A bursary is a sum of money given to students to fund their post-matric studies based on their financial need and/or academic performance.
These types of funding are usually provided by government, companies, organisations, or individual donors.
Although there are many amazing advantages in obtaining a bursary to pursue tertiary education, there are a few disadvantages that students should be aware of before making any commitments.
Before accepting a bursary offer, read through all the obligations of the bursary. Most bursaries have certain regulations and policies that recipients will have to follow and adhere to.
Here are a few common Disadvantages of Bursaries:
- Many bursary programmes have a series of interviews and tests which need to be completed before you are awarded the bursary
- Some bursaries only cover a portion of study expenses. You will have to cover the remaining fees.
- Certain bursaries will stipulate how you are supposed to spend the funds that are awarded to you.
- You can forfeit your bursary support if you underperform in your academics.
- Some funding organizations require you to volunteer or work with them after or during your studies. This may require you to relocate.
- A bursary renewal is not always guaranteed, This can be influenced by lack of donor funding or the student's failure to meet the requirements. This means that you might have to find alternative funding for the duration of your studies.
Doing some further research will help you find out what other pros and cons of a bursary might be.
Find out more on various funding opportunities on the Bursaries Portal.
