Do you have to pay back bursaries or do some form of service for it?

Being selected for a bursary can feel like winning the financial aid lottery.

Bursaries reduce the burden of tuition fees, opens doors to higher education, and makes your academic journey smoother.

But before you celebrate, a question I’m sure you have on your mind is whether you have to pay back bursaries or do some form of service for it.

I think after reading this article, your mind will be clear about everything relating to this form of funding.

What Happens When You Get a Bursary?

A bursary is a grant awarded to students based on various requirements like their academic background, financial troubles, or their fields of study.

Bursaries are not debts that require repayment with interest, this makes them so much more preferable compared to student loans.

Do You Have to Pay Back Bursaries or Do Some Form of Service for It?

Generally, no, you don’t have to pay back your bursary. They are considered “free money” intended to support your education and relieve you of your financial stress.

However, some bursaries might come with certain conditions attached, which can fall into two categories:

1. Academic performance: The bursary may require you to maintain a certain academic average or progress in your chosen field of study. Failing to meet these requirements could result in the bursary being revoked.
2. Work obligation: Some bursaries, especially those sponsored by companies or organizations, might require you to work for them for a period of time after graduation. This could be in the form of internships, employment within the sponsoring organization, or community service.

The conditions attached to a bursary will be clearly outlined in the award agreement so read it thoroughly before accepting the offer to ensure you understand and can fulfill their expectations.

What is the Benefit of Getting a Bursary?

There are several benefits of securing a bursary. Here are some of the advantages:

1. Reduces financial stress: Bursaries take away the burden of tuition fees and living costs, allowing you to focus on your studies without financial worries.
2. Increases access to education: For many students, money problems can become a barrier between them and higher education. Bursaries break down this barrier and open doors to new opportunities.
3. Boosts academic performance: Financial stress can affect your academic performance negatively. By easing the financial burden, bursaries can create a more conducive learning environments.
4. Provides professional opportunities: Bursaries with work obligations offer valuable work experience within your chosen field. This can give you a competitive edge in the job market after graduation.
5. Builds connections: Bursaries often connect you with sponsors, alumni networks, and other professionals in your field. These connections can open doors to future career opportunities and mentorship.

Bursaries are not just financial aid, they are investments into your future. If you understand their terms and conditions, you can make better decisions and enjoy all the benefits of being funded by a bursary.