How much do you know about bursaries? Probably not that much as they are not so popular, but read on for some of the key facts.

Bursaries are loans intended to pay for your education and you don`t have to pay them back. The government rarely pays bursaries, most of them are paid by individual universities and colleges. You can get a bursary and still get other state support like loans for living costs and such. The amount a University pays for a bursary is very diverse. Some pay less while others will pay more than 5000 dollars per year. Bursaries are usually paid every year and you can get it every year if you are eligible.

What you need to understand is that the bursary is a means-tested loan that you don`t have to give back, but you can still apply for a scholarship which will be merit-based in order to supplement your income while you study.

The interesting thing is that all universities will give at least one bursary to students whose parents earn below a certain threshold. They have to, so even if bursaries are not as known as scholarships, they are out there and you can get them if you apply for them. The tricky thing is that not all universities have the same criteria of entitlement. Each university is free to choose its own so you might be accepted at one university and rejected at another one. This is a good thing to check before you go on with applying for different universities.

Some universities give a partial bursary for students whose parents earn below a threshold, but more than the lower limit that allows you to receive a bursary. There are also universities that offer bursaries to all students, but you still need to apply for one. In any case, you should always check if you are entitled to get a bursary or a scholarship. You usually just need to file some simple documents and you will get a rather quick response.

If you need a higher bursary seek out the universities that give the most substantial bursaries and apply there. You`ll be much more relaxed if you know you are getting financial help that you don`t need to repay.