Scholarship and bursary are two kinds of monetary aid that are awarded to those individuals of high academic achievement. A scholarship is awarded to a student whose academic achievements are well above average. Sometimes extracurricular activities factor in. There are also different types of scholarships based upon the nature and financial situation of the student.
A bursary is a financial aid granted to students who are suffering from financial difficulties. Bursaries are typically offered by several organizations, which includes charitable institutions, and this financial assistance must be given to the student whose family earns the lowest possible income. It is also given to those who display above-average academic performance.
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