Fall 2024 Scholarship: Get Up to $10K for Your Master's Abroad! Fall 2024 Scholarship: Get Up to $10K for Your Master's Abroad!

Apply now
September 25, 2023

Scholarships vs. Bursaries

Difference between Scholarships vs Bursaries

Scholarships and Bursaries are financial awards offered to students interested in pursuing their education. Various guidelines and conditions are attached to their application which makes them both similar and dissimilar to each other. 

In this article, before discussing the differences between scholarships vs bursaries, let us go through the definitions of a bursary and scholarship to get a clearer picture of them. 

What are Scholarships?

Scholarships are non-repayable financial assistance offered to students to encourage talent. It can be both merit and need-based and is usually offered to a specific category of students. Scholarships are also country-based and are offered to students who want to study abroad in specific countries. 

Scholarships cover educational costs (like tuition fees), and costs of living (like maintenance, accommodation, transportation, etc.). 

scholarship study abroad

What makes you an ideal candidate for a scholarship?

What are Bursaries?

Bursaries are financial aid offered by colleges, universities, foundations, or governments to students for their education. These are meant for students who belong to low-income households and are unable to meet their educational expenses.

Bursaries are need-based and not merit-based. It covers the living costs of the student in a specific year.

Key differences between Scholarships vs. Bursaries

The key differences between scholarships vs. bursaries based on various parameters are as follows-

1. Financial status

The financial status of a student is not necessarily taken into consideration while awarding the scholarships, whereas the opposite is true for a bursary as it is given to students facing financial difficulties in paying their education fees. 

2. Purpose

The purpose of the scholarship is to provide financial aid to students who are gifted in terms of talent or an area of expertise so that the funds can promote their education.

The purpose of offering bursaries, on the other hand, is to offer financial support or monetary funds to students who are unable to pay their education fees. 

Thus, the purpose of scholarships is to boost skills and bursaries are to avoid financial struggles. 

3. Types

There are different types of scholarships like merit-based scholarships, talent-based scholarships, and merit-cum-need based scholarships whereas bursaries are only need-based financial supports.

4. The offering Party

The scholarships and bursaries are offered by schools, universities, governments, or third parties like a foundation. In the case of scholarships, the third party is usually interested in promoting talent, whereas, in the case of bursaries, it is to help the recipient avoid financial problems. 

5. Offered to

Scholarships are based on the academic performance of the student or achievements in specific categories like music, sports, etc., or based on need.

Bursaries are offered only based on need so that the students can pay the education fees and continue with their studies. 

6. Area of consideration

The main area of consideration while awarding scholarships is the merit and skills of the student whereas the financial status is the primary area of consideration while offering a bursary. 

7. Paying back

Scholarships are non-refundable awards offered to students with exceptional talent. If the student does not agree to the terms and conditions of the offered scholarship then he has to pay back the money at a later period. 

Some bursaries claim a specific percentage of the offered fund once the student gets a job and starts earning. If the student cannot complete the education or has to leave it midway he will have to pay back a specific percentage of the offered bursary that he has received for that specific year. 

Specific conditions are attached to both scholarships and bursaries and the students have to follow them at all costs. When the student is offered a bursary, he has to agree to work for the offering party for a specific time. 

The primary condition of a scholarship is that the student will have to maintain exemplary grades. Only sometimes does the scholarship require the student to work for the organization offering the scholarship. 

9. Benefits

The benefits offered under scholarships vs. bursaries vary to a great extent. Scholarship often covers the entire or a part of tuition fees along with a discount on maintenance costs, transport expenses, and the cost of books. Bursaries on the other hand offer monetary aid to cover education expenses and sometimes include one-off payments for meeting living costs. 

The education cost calculator on the EduFund App helps to get an estimate of the future education so that the student can know the scholarship or bursary amount that will be sufficient to meet his requirements.  


What is a Scholarship?

The scholarship is financial aid given to students mainly on academic merit. Sometimes, it is also given on the basis of gender, needs, field of study, race, or economic background.

What is a Bursary?

A bursary is an amount of money given to a student by an educational institution to pay for their studies.

How often do I get a Bursary?

Bursaries are usually offered to students for one academic year and they need to re-apply every year till they finish the duration of their studies.

How many bursaries can I get?

Some Bursaries cover tuition fees either fully or partially. Others might cover living costs and some might also provide assistance for a specific purpose, for example, to purchase expensive equipment required for your education.

What is the difference between a Scholarship and a Bursary?

The primary difference between a Scholarship and a Bursary is that a Scholarship is offered to students based on academic merit and Bursary is offered to students who need monetary assistance for their education.

Want to invest?

Want to invest?

Open a Edufund account & start investing. It's fast & 100% free.

US Stocks Banner
Scholarships Banner

recommended reading

Aditya Birla Scholarship

Aditya Birla Scholarship

The Aditya Birla Group is one of India's leading multinational corporations, with a diverse range of businesses including cement, metals, telecommunications, and financial services. As a part of their corporate social responsibility initiative, the Aditya Birla Group offers scholarships to deserving students who are in need of financial assistance to pursue higher education. Who can apply for the Aditya Birla Scholarship? The Aditya Birla Scholarship is available to students pursuing undergraduate and postgraduate studies in India. The scholarship is awarded based on academic merit, financial need, and overall personal characteristics and achievements. The scholarship is awarded for a period of one academic year and is renewable for a second year based on the student's academic performance. What are the eligibility criteria for Aditya Birla Scholarship? To be eligible for the Aditya Birla Scholarship, students must be Indian citizens and should have secured admission to a recognized university or college in India.  They should also have a good academic record, with a minimum aggregate of 60% in their last examination. In addition, students should come from economically and socially disadvantaged backgrounds and should have a demonstrated need for financial assistance to pursue their studies. What are the expenses covered by the Aditya Birla Scholarship? The scholarship provides financial assistance to cover expenses such as tuition fees, hostel fees, and other miscellaneous expenses. The amount of the scholarship varies depending on the student's individual needs and the cost of their education. How to apply for the scholarship? To apply for the Aditya Birla Scholarship, students must fill out an application form, which is available on the Aditya Birla Group website. They must also submit relevant documents such as their academic transcripts, proof of admission to a recognized university or college, and proof of financial need. The application process for the Aditya Birla Scholarship is competitive and rigorous, with a panel of experts from the Aditya Birla Group reviewing each application. The panel considers factors such as the student's academic record, personal characteristics, and financial needs before making a decision. The Aditya Birla Scholarship is a valuable opportunity for students in India who are in need of financial assistance to pursue higher education. It provides financial assistance to cover the costs of education and enables students to focus on their studies without worrying about financial constraints. The scholarship also allows recipients to develop the skills and knowledge necessary to succeed in their chosen field and make a positive impact in their communities. The Aditya Birla Group is committed to promoting education and empowering individuals to reach their full potential. Through the Aditya Birla Scholarship, the group is helping to create a brighter future for deserving students in India. Tips on how to apply for the scholarship! In addition to the basic eligibility criteria and application process, there are a few other key points to keep in mind about the Aditya Birla Scholarship: The scholarship is available to students pursuing a wide range of courses, including engineering, medicine, science, commerce, and arts. However, preference is given to students pursuing courses in science and technology. Students who are already receiving financial assistance from other sources are not eligible to apply for the Aditya Birla Scholarship. Along with the application form and required documents, students must also submit a personal statement outlining their academic and career goals, as well as their reasons for applying for the scholarship. The selection process for the Aditya Birla Scholarship is highly competitive, with only a limited number of scholarships awarded each year. Therefore, it is important for students to make sure that their application is as strong as possible. In addition to financial assistance, the Aditya Birla Scholarship also provides recipients with mentoring and career guidance to help them succeed in their studies and future careers. Recipients of the Aditya Birla Scholarship are also expected to participate in community service activities as part of the scholarship program. The scholarship is a great way for students to get support from the Aditya Birla Group, one of India's leading multinational corporations. This can open up opportunities for internships, networking, and future employment with the group. The Aditya Birla Scholarship is an excellent opportunity for deserving students in India who are in need of financial assistance to pursue higher education. The scholarship provides not only financial support but also mentoring and career guidance to help recipients succeed in their studies and future careers.  In summary, the Aditya Birla scholarship is a merit and need-based scholarship for Indian students pursuing undergraduate and postgraduate studies in India. The scholarship is awarded for a period of one academic year and is renewable for a second year based on academic performance. The applicants are selected based on their academic record, personal characteristics, and financial need through a competitive application process. The scholarship is an initiative of Aditya Birla Group as a part of their corporate social responsibility and it is a great opportunity for financially challenged students to pursue higher education. Consult an expert advisor to get the right plan TALK TO AN EXPERT
Grants vs Scholarships

Grants vs Scholarships

People often consider grants and scholarships as synonyms because both provide financial aid. They help students to pursue their studies without the hassle of paying fees.   But there is a thin line that distinguishes grants and scholarships. A scholarship is only awarded to students, whereas grants are given to students, professionals, or research scientists. Both scholarships and grants are not student loans and do not have to be paid back in ordinary circumstances. Instead, these are financial help that encourages people to reduce debt, minimize work problems, promote research, and realize their dreams without any financial burden. Although both come under monetary help and are equally popular, it becomes crucial to have in-depth knowledge about them.  Grants vs Scholarships A grant is a financial award from a government, foundation, or company to another company or an individual for a specific goal or to encourage better performance. Scholarships are also defined as financial awards, but an organization offers government or a college/university only to students to pay for their degree courses as tuition and related fees. Need vs Merit Grants are need-based as they are awarded to deserving people who do not have the funds to fulfill their purpose. Scholarships are merit-based and need-based and go to students who cannot continue their studies because they lack adequate funds and have shown exceptional excellence or outstanding performance in their fields. 1. Purpose The purpose of grants and scholarships is different as the former is to fulfill a specific purpose which can be educational, research, or even to start a business. In contrast, the latter is meant only for educational purposes and is given to students who excel in sports, academics, or extracurricular activities. 2. Recipients  The grants and scholarships differ from each other as grants can be conferred to any individual, entity, non-profit organization, educational institution, or organization working towards a specific purpose. Scholarships are given only to students for excellence in their academic, athletic, or artistic abilities. 3. Source of funding The source of funding for grants and scholarships is both similar and different. Grants funding can be derived from non-profit organizations, colleges, and state governments. Scholarship funding is derived from various organizations and institutions. 4. Performance Grants and scholarships share a level of similarity. They require their recipients to live up to a certain standard, but the level of performance may vary. Grants are not purely based on performance, while scholarships depend on performance. Most scholarships may be withdrawn if students fail to keep up their academic performance. Depending on the type of scholarship, every student must participate and maintain a level of excellence.   5. Eligibility  Grant eligibility is based on financial need, whereas scholarship is flexible. It can be need-based, merit-based, or given to a specific community. Eligibility for a grant like the Federal Pell Grant is based on EFC, whereas the New York TAP Grants and Cal Grants establish their eligibility on income cutoff. The eligibility for scholarships is dependent upon a student’s GPA or high school grade point average, class rank, and test scores from the admission tests. Requirements and Restrictions The specific requirements and restrictions between scholarships and grants vary greatly as eligibility to receive grants ranges from one grant program to another. Some scholarships have maintenance and eligibility requirements and conditions similar to the grants, whereas others might require maintaining a minimum GPA to renew their scholarships. Both grants and scholarships are good options for people requiring financial assistance. If your child is going to pursue research-driven courses like a Ph., then grants can be beneficial, while for a master's, they can opt for scholarships. Start preparing your child for their dreams, financially and academically!  FAQs What is the main difference between grants and scholarships? Grants are awarded to individuals, entities, or organizations for specific purposes, while scholarships are typically given to students for educational expenses. What is the primary purpose of grants? Grants serve various purposes, including educational, research, or business-related goals, whereas scholarships are primarily for educational purposes. How are grants and scholarships funded? Grants can be funded by non-profit organizations, colleges, and state governments, while scholarships receive funding from various organizations and institutions. What is the eligibility criterion for grants? Grant eligibility is often based on financial need, whereas scholarships can be need-based, merit-based, or specific to certain communities. What are the performance requirements for scholarships and grants? Scholarships typically require students to meet performance standards, while grants may have performance expectations but are not solely based on performance. TALK TO AN EXPERT
How to Pursue M Tech Abroad with a Scholarship

How to Pursue M Tech Abroad with a Scholarship

MTech stands for Master's in Technology. It is typically a two-year degree and gateway to various job opportunities in different fields of science and technology. The most common specializations within the gambit of MTech are MTech in Computer Science, Civil Engineering, Biotechnology, Artificial Intelligence, Cyber Security, Structural Engineering, etc. To pursue MTech in Abroad or in India, the candidate must have bachelor's in engineering/ technology/ science/architecture.  An MTech degree can cost anywhere between ₹2 lakhs to ₹30 lakhs depending upon your country, course and college. The great news is that there are various scholarships for students who wish to study MTech abroad or in India. Scholarships such as:  Reliance Foundation Scholarship,   TATA Steel Millennium Scholarship  DRDO Scholarship Scheme for Girls  American Association of University Women (AAUW) International Fellowships -Aga Khan Foundation International Scholarship Program  Fulbright Foreign Student Program  Chevening Scholarships  Commonwealth Scholarships  These MTech scholarships are a great financial relief for students who wish to pursue higher studies but are impeded by financial constraints. These scholarships offer full or partial coverage that allows students to upgrade and work towards a fine future. In this blog, we will focus on MTech abroad with scholarships for Indian students.  Why Pursue MTech Abroad?  The scope of studying MTech abroad is tremendous. Students get international exposure, study with diverse minds, greater research opportunities and access to highly developed labs. It is also the gateway to high paying jobs in some of the most revolutionary industries. Let’s breakdown how the most relevant information about MTech Abroad.    Aspect Details Program MTech or master's in technology Duration 1 or 2 years Benefits of Studying MTech Abroad Lucrative jobs, international exposure, study with diverse minds, greater research opportunities and access to highly developed labs. Types of Scholarships for MTech Government, Quasi-Private, Private, University specific scholarships Top Destinations for studying MTech in abroad USA, India, Germany, UK, Canada, Singapore, Australia, Switzerland, France, Netherlands, etc Key Universities MIT, Stanford University, University of Oxford, ETH Zurich, Harvard, CalTech, NUS, University of Toronto, etc. Finding Scholarships University specific websites Application Process Most institutes offer admission based on candidates' performance in the GATE examination, while many institutes hold their own entrance exam. Success Stories - Financial Planning Scholarships Common Challenges High costs, high competition, low GRE scores, limited seats, etc. Support Resources -  Eligibility and Requirement for studying MTech Abroad with Scholarship  Earning an MTech abroad with a scholarship can be overwhelming. Every university and scholarship have their own criteria for admission. Here's a breakdown of what you typically need:  University Requirements for Studying MTech Abroad  Academic Background: A bachelor's degree in engineering or a related field from a recognized university with a strong GPA (often minimum 3.0 - 4.5 on a 4.0 scale).  Standardized Tests: Scores from the GRE (Graduate Record Examination) or subject-specific GREs may be required by some universities, depending on the program.  English Language Proficiency: Demonstrate English proficiency through tests like TOEFL (Test of English as a Foreign Language) or IELTS (International English Language Testing System).  Work Experience: Some programs may require relevant work experience in your chosen engineering field.  Scholarship Requirements  Academic Excellence: High academic performance in your undergraduate studies is a top priority for most scholarships.  Financial Need: Some scholarships prioritize students with demonstrably limited financial means.  Research Experience: Scholarships often favor applicants with prior research experience that aligns with the program's focus.  Leadership and Extracurricular Activities: Demonstrating leadership qualities, involvement in relevant activities, and a strong work ethic can strengthen your application.  Program/University Alignment: Clearly articulate how your academic goals and interests align with the specific MTech program and scholarship objectives.  Additional Tips   Research Thoroughly: Explore scholarship opportunities offered by universities, governments, and private organizations in your target countries.  Country-Specific Requirements: Eligibility criteria might vary depending on the country you wish to study in. Research specific requirements for your chosen destinations.  Start Early: The application process takes time. Begin researching scholarships well in advance to meet deadlines and prepare strong application materials.  Entrance Exam for Studying MTech Abroad with Scholarship   The most important exam for studying MTech abroad is GRE. Most top universities for MTech offer admissions based on your GRE scores. However, it is not the only admissions criteria – your academic scores in the past, your SOP, LORs, scores in IELTS/TOEFL, your research experience and work experience also play an important role in the admission process. Let’s address the common entrance exams needed to pursue MTech.  Required Entrance Exams  GRE (Graduate Record Examination): This is the most widely accepted standardized test for MTech programs, particularly in the US, Canada, and some universities in Europe and Asia. It assesses your quantitative reasoning, verbal reasoning, analytical writing, and critical thinking skills. Some universities might require subject-specific GREs along with the general GRE, depending on your chosen MTech specialization.  GMAT (Graduate Management Admission Test): While less common for MTech programs, some universities, particularly for MTech programs with a strong management or business component, might require the GMAT.  English Language Proficiency Exams  TOEFL (Test of English as a Foreign Language): This is the most widely accepted English language proficiency test for international students.  IELTS (International English Language Testing System): Another widely accepted alternative to TOEFL.  Programs Without Required Standardized Tests  Some universities, especially in Europe, might not require GRE or GMAT for MTech programs. They might rely solely on your academic transcripts, letters of recommendation, statement of purpose, and English language proficiency scores.  Scholarship providers themselves might not have standardized test requirements. They might prioritize factors like academic excellence, research experience, and alignment with the scholarship's goals.  Types of Scholarships Available for MTech Students There's a vast array of scholarships available to support Indian students pursuing MTech programs abroad. Let's explore the different types and some examples:  Merit-Based Scholarships   AICTE PG Scholarship (GATE/GPAT): Offered by the All-India Council for Technical Education (AICTE) to GATE/GPAT qualified students pursuing MTech in AICTE-approved institutions (India)   Tata Steel Millennium Scholarship: Supports talented Indian students pursuing MTech in specific engineering fields at select Indian Institutes of Technology (IITs).  University-specific merit scholarships: Many universities abroad offer merit-based scholarships specifically for international students, including Indian students. Research the scholarship pages of your target universities.  Need-Based Scholarships  National Scholarship Scheme for SC/ST Students (India): Provides financial assistance to meritorious students belonging to Scheduled Caste (SC) and Scheduled Tribe (ST) communities pursuing higher education, including MTech abroad.  Aga Khan Foundation International Scholarship Program: Offers need-based and merit-based scholarships to outstanding students from developing countries like India for postgraduate studies, including MTech programs.  University-specific need-based scholarships: Some universities abroad offer financial aid packages considering a student's financial need alongside academic merit. Explore the financial aid sections of your target universities.  Country-Specific Scholarships  Commonwealth Scholarship and Fellowship Plan: Funded by the UK government, it provides scholarships and fellowships for students from Commonwealth countries, including India, for postgraduate studies in the UK, including MTech programs.  Research country-specific scholarship programs: Many countries offer scholarships specifically for Indian students. Explore the websites of embassies and consulates of your target countries in India.  University-Specific Scholarships  University of Melbourne Scholarships: The University of Melbourne offers various scholarships for international students, including Indian students, pursuing postgraduate studies, including MTech programs (explore their scholarship website).  Nanyang Technological University (Singapore) Scholarships: NTU offers scholarships for international students, including Indian students, pursuing postgraduate studies, including MTech programs (explore their scholarship website).  Research scholarship pages of your target universities. Many universities offer a plethora of scholarships specifically for MTech programs.  Scholarships by Private Organizations and NGOs  Society of Indian Engineers (SIE) Scholarships: SIE offers scholarships to Indian students pursuing engineering studies in India and abroad, including MTech programs.  The Rhodes Trust Scholarships: Offered to exceptional students from Commonwealth countries, including India, for postgraduate studies at the University of Oxford.  Research scholarship opportunities offered by NGOs and private organizations relevant to your chosen MTech field.  Cost of Studying MTech in Top Destinations Breakdown of Costs  United States:  Tuition Fees: $20,000 - $50,000  Living Expenses: $12,000 - $20,000  Total Estimated Cost: $32,000 - $70,000  Canada:  Tuition Fees: CAD 20,000 - CAD 35,000  Living Expenses: CAD 10,000 - CAD 15,000  Total Estimated Cost: CAD 30,000 - CAD 50,000  Germany:  Tuition Fees: €0 - €3,000 (public universities), €10,000 - €20,000 (private universities)  Living Expenses: €10,000 - €15,000  Total Estimated Cost: €10,000 - €35,000  United Kingdom:  Tuition Fees: £15,000 - £35,000  Living Expenses: £12,000 - £15,000  Total Estimated Cost: £27,000 - £50,000  Australia:  Tuition Fees: AUD 25,000 - AUD 45,000  Living Expenses: AUD 18,000 - AUD 25,000  Total Estimated Cost: AUD 43,000 - AUD 70,000  Notes:  Tuition Fees: Vary widely based on the university and the specific M.Tech program.  Living Expenses: Include accommodation, food, transportation, health insurance, and other personal expenses.  Scholarships and Financial Aid: Many universities and external organizations offer scholarships and financial aid that can significantly reduce the overall cost.  Public vs Private Universities: In some countries, public universities may offer lower tuition fees compared to private institutions, as seen in Germany.  How to Find Scholarships for MTech Abroad? Finding the perfect scholarship to fuel your MTech dreams abroad requires a multi-pronged approach.  Start by scouring the websites of your target universities and scholarship portals dedicated to international students. Don't forget to explore resources provided by your home country's government and the embassy of your target country. Utilize online scholarship databases and platforms to broaden your search. Finally, leverage your network! Connect with alumni and current students of your target programs – they can be invaluable sources of scholarship insights and guidance. With this comprehensive strategy, you'll be well on your way to securing the scholarship that unlocks your MTech adventure abroad. Students can also apply for scholarships through EduFund and get financial aid they require to study abroad. 
How to sponsor a child's education?

How to sponsor a child's education?

Recent statistics state that 32 million children up to the age of 13 have never attended any school in India, and 47 million secondary and higher secondary students drop out because of domestic and financial reasons.  Education can open new doors of opportunities so that children can leave their life of poverty behind and step into a better and enriched life.  Bright children seek education, and one of the best ways to fulfill their dreams is through sponsorship. To know how to sponsor a child’s education, then you must go through this blog. What is a sponsorship? Sponsorship in the context of a child’s education refers to a program that allows an individual, a group, or a business entity to offer monetary contributions so that the money donated can help in educating the child. How much does a sponsorship cost? The cost of sponsoring a child’s education fluctuates from INR 1,000 per month to INR 3,000 per month. The amount varies from donor to donor and organization to organization. If the sponsor wants to pay only for the tuition fees, then they can do so, but if they want to pay for related expenses, there is also a provision for that.  Payments can be made every month or as a lump sum amount for a year. What does the beneficiary get? Financial aid and associated benefits of most sponsorship programs concerning a child’s education cover-  School expenses like tuition fees, lab fees, uniforms, textbooks, and stationery (pen, pencil, rubber, geometry box and sharpener, etc.). Nutritious and balanced meals. Medical screenings and health care to ensure physical and mental well-being. Learning vocational skills. Facilitating extra-curricular activities.  Connect children with teachers and mentors. An opportunity to learn and practice literacy skills. Teaching activities that will help in sharpening income-generating skills. Additional read: Best sip plan for child's future Sponsoring a child’s education 1. Select a verified organization You can sponsor a child’s education in India by selecting a verified and genuine organization. These organizations are often constrained by a lack of monetary resources as the number of needy children far exceeds the support options. Numerous non-profit organizations in India have set up the required infrastructure to help children in getting the education they deserve. Some of them have the backing of government agencies, and some are dependent upon business entities for funds.  2. Get the required information You can call the NGOs directly on the phone, email them or conduct an in-person meeting to gather the related information. Ask about the program, how many children they support, what amenities they provide and how you can make a difference. Ask about the sponsorship amount and what it will entail. Will the organization provide only the tuition fees, or will the amount include related expenses? You can also speak about your budget and what benefits it can offer to the child.  3. Select a child Some people believe in creating a personal bond with a child and if you are one of them, then ask the NGO about the children that need education. Select a child and form a connection by speaking with them and making sure both emotional needs and financial needs are met.  When the sponsor becomes personally involved with a child, then they can ask the organization to send periodic reports of the sponsored child to know how the child is faring. They can also visit or write to the child periodically to maintain the bond.  4. Sponsor a child online If you are not interested in creating a one-on-one bond and just want to donate the money as a charitable contribution for income tax purposes, then you can donate online on the NGO site.  The government encourages its well-off citizens to contribute to the education of children who do not have the necessary funds to get admitted to schools and colleges. Donations related to the sponsorship program are eligible for a 50% tax exemption under Section 80 G (5) of the Income Tax Act 1961.  Thus, sponsorship acts as a two-fold beneficial tool. It will provide education to needy children and help the sponsor to claim exemption during the income tax filing.  5. No refund or cancellation Charitable organizations generally do not allow refunds or cancellations of donations by any donor. Hence be sure before making a payment. FAQs What is sponsorship? Sponsorship in the context of a child’s education refers to a program that allows an individual, a group, or a business entity to offer monetary contributions so that the money donated can help in educating the child. What are the benefits of sponsorship? The benefit of sponsorship is to give someone an opportunity to grow and develop their skills. Education sponsorship is meant for students who lack the financial means to support their education and can benefit from sponsorships to build a career for themselves. Conclusion By now, you must have come to know how to sponsor a child’s education effectively. The sponsorship program can create a positive impact on the life of a student who just needs an opportunity to break the cycle of poverty and improve their living conditions. TALK TO AN EXPERT
How to Write an Application for a Scholarship?

How to Write an Application for a Scholarship?

Are you an Indian student aspiring to pursue higher studies abroad with a scholarship? This guide will provide valuable insights into the process of writing a compelling scholarship application and sharing effective strategies to secure scholarships for studying abroad. Discover how to maximize your chances of receiving financial aid and achieving your educational dreams.  1. Understanding the Scholarship Application Process  A. Research and Identify Scholarships: Begin by researching and identifying scholarships specifically designed for Indian students studying abroad. Explore various sources such as government programs, educational institutions, private organizations, and international foundations.  B. Eligibility Criteria and Requirements: Carefully review the eligibility criteria and requirements for each scholarship. Pay attention to factors such as academic achievements, field of study, financial need, extracurricular involvement, and leadership qualities.  C. Application Deadlines: Note the application deadlines for each scholarship and create a timeline to ensure you submit your applications well before the closing dates.  2. Crafting an Impressive Scholarship Application  A. Personal Statement: Write a compelling personal statement that showcases your passion for the chosen field of study, highlights your academic achievements, and outlines your future goals. Tailor your statement to reflect how studying abroad will contribute to your personal and professional growth.  B. Academic Achievements and Extracurricular Involvement: Emphasize your academic accomplishments, including grades, honors, awards, and participation in relevant competitions. Highlight your involvement in extracurricular activities, leadership roles, volunteer work, or community service.  C. Financial Need and Scholarships: Clearly articulate your financial need and explain how receiving a scholarship will alleviate the financial burden and enable you to pursue your studies abroad. Apply for Scholarship 3. Strategies for Obtaining Scholarships  A. Seek Guidance and Assistance: Reach out to educational consultants, career counselors, or scholarship advisors who can provide guidance and support throughout the application process. They can help you identify suitable scholarships and offer valuable advice on presenting your qualifications effectively.  B. Build a Strong Network: Engage with professionals, professors, and alumni who have experience with scholarships or studying abroad. Their insights and recommendations can be invaluable in securing scholarships.  C. Develop a Well-rounded Profile: Enhance your profile by participating in relevant workshops, internships, research projects, and conferences. This demonstrates your dedication, initiative, and commitment to academic and personal growth.  What makes you an ideal candidate for a Scholarship? Read More 4. Financial Planning and Scholarship Opportunities  A. Explore Government Scholarships: Investigate scholarships offered by the Indian government and various state governments to support students studying abroad. These scholarships often cover tuition fees, living expenses, and travel costs.  B. Research University Scholarships: Many universities abroad provide scholarships, grants, and fellowships to international students. Visit university websites and explore the available options that suit your field of study and financial needs.  C. External Scholarships and Sponsorships: Look for scholarships offered by private organizations, foundations, and corporations that support international students. Stay updated on scholarship announcements and apply to those aligned with your academic pursuits.  The Truth about Winning Scholarships Read More 5. Recommendation Letters  A. Selecting Recommenders: Choose individuals who know you well academically or professionally and can provide a strong endorsement of your abilities and potential. This could include professors, mentors, employers, or supervisors.  B. Requesting Recommendation Letters: Approach your recommenders well in advance and politely request their support. Provide them with relevant information, such as your academic achievements, career goals, and the scholarship you are applying for, to help them craft a personalized and persuasive letter.  C. Follow-up and Gratitude: Express your gratitude to your recommenders for taking the time to write the letters on your behalf. A thank-you note or email goes a long way in maintaining professional relationships.  6. Application Submission and Follow-up  A. Proofreading and Editing: Before submitting your application, thoroughly proofread and edit all the required documents. Check for grammatical errors, typos, and coherence of the content. Seek feedback from mentors or trusted individuals to ensure a polished application.  B. Submitting Documents: Submit your application along with all the required documents by the specified deadline. Follow the instructions carefully and provide all the necessary information accurately.  C. Follow-up and Status Updates: After submitting your application, if the scholarship committee allows it, periodically check the status of your application. Maintain professional communication and be prepared to provide any additional information or documents if requested.  7. Scholarship Interview Preparation  A. Researching the Interview Process: If your scholarship application progresses to the interview stage, familiarize yourself with the interview format and potential questions. Research the scholarship organization's values, goals, and previous interview experiences to gain insights into their expectations.  B. Practicing Interview Skills: Practice answering common interview questions and developing concise, articulate responses. Consider participating in mock interviews with friends, mentors, or career counselors to refine your communication skills and build confidence.  C. Showcasing Your Qualities: During the interview, emphasize your passion for your chosen field of study, highlight your achievements, and articulate how the scholarship will contribute to your personal and professional growth. Demonstrate your commitment, adaptability, and ability to thrive in a multicultural environment.  Scholarship vs Bursaries Read More 8. Additional Funding Options  A. Crowdfunding and Online Platforms: Explore crowdfunding platforms and online scholarship databases that connect students with potential donors or sponsors. Craft a compelling campaign to appeal to individuals who may be interested in supporting your educational journey.  B. Employer Sponsorship: Check if your current or future employer offers sponsorships or educational assistance programs for employees pursuing higher studies. Some companies provide financial support to employees who contribute to their organization's growth and development.  C. Alumni and Community Associations: Investigate if there are alumni or community associations related to your desired field of study or university. They may offer scholarships, grants, or mentorship opportunities to support students from their community.  9. Keeping Track of Deadlines and Opportunities  A. Organizing a Scholarship Calendar: Create a calendar to track scholarship application deadlines, submission requirements, and any upcoming opportunities. This ensures that you don't miss out on potential scholarships or important dates.  B. Stay Updated with Scholarship Announcements: Regularly check scholarship websites, educational forums, and social media groups focused on scholarships. Subscribe to newsletters or mailing lists that provide updates on scholarships for Indian students studying abroad.  C. Seek Professional Assistance: Consider engaging with educational consultants or scholarship advisors who specialize in helping Indian students secure scholarships for studying abroad. They can provide personalized guidance, recommend suitable opportunities, and assist with application preparation.  Conclusion Securing a scholarship to study abroad as an Indian student requires dedication, thorough preparation, and effective application strategies. By researching scholarships, crafting a compelling application, seeking guidance, and exploring various funding options, you can increase your chances of turning your educational dreams into a reality. 
Indian scholarships to study abroad

Indian scholarships to study abroad

Do you intend to study abroad and are an Indian student? There are many financial avenues to achieve this goal. Here are 7 Indian scholarships that help Indian students turn their dream of studying abroad into a reality.  Indian government provides financial aid to Indian students who want to pursue their aspirations of studying abroad. Some well-known Indian government scholarships for studying abroad are given below. Let's start!  1. Fullbright-Nehru master’s scholarships  The Fulbright- Nehru Master’s Fellowships can be claimed by talented and determined Indian scholars with applicable work experience. These scholars need to display significant rates of leadership, in addition to work experience and academic qualifications.  It's a merit-grounded and need-grounded program offered by the United States- India Educational Foundation. Please note that the quantum is variable and can be renewed yearly.  Coverage of accident and sickness costs as per the United States government guidelines. also, this education also funds the round-trip frugality class chow.  scholars who have completed a degree fellow to the United States bachelorette’s degree are eligible to admit this education. This includes the completion of a four-time bachelorette’s program, master’s program, or postgraduate parchment. 2. Great Wall Program  Learn about The Great Wall Program if you're interested in pursuing higher education in China. You can achieve it with the help of this scholarship.  You should be aware of a few things regarding this government scholarship for studying abroad. Among them are:  First, this scholarship will cover the cost of tuition, a regular stipend, health insurance, and housing.  Second, applicants for this scholarship must be under 45 years old and have a bachelor's, master's, or comparable degree.  Last but not least, UNESCO created this government scholarship program for academics and students looking for financial support to study and conduct research in China. 3. The JN Tata Endowment Scholarship  If you want to pursue a degree at a global university, you are eligible for this government award for students.  Depending on whether the student meets the eligibility requirements, the scholarship amount may range from INR 1,000,000 to INR 10,000,000.  A gift scholarship worth INR 75,000 can also be suggested for students. Based on the student's academic standing at their university, gift scholarships may be given. However, you must pay back the scholarship money in equal payments of 20%. Repayment can start if you're a resident between both the third and seventh years of your stay. You will have to start paying back the government scholarship money if you start working before your third year.  4. Aga Khan Foundation International Scholarship Program  Students have a wonderful opportunity to study at institutions in Portugal, France, the United Kingdom, Canada, and the United States thanks to the Aga Khan Foundation Scholarships. As a result, it is among the most sought-after government scholarships offered by India for international study.   Even so, when applying for this govt full scholarship overseas, there are some points to bear in mind. Students who apply for this award will receive a 50/50 loan and grant. Most applicants for the master's programs are given preference. However, you might need to look into other scholarship options for short-term programs like certifications and postgraduate degrees.  The demonstration of continuous intellectual effort and achievement is one of the qualifying criteria for this scholarship program.  5. Lady Meherbai D Tata Education Trust Scholarship  The Lady Meherbai D Tata Education Trust Scholarship stands out since it is designed exclusively for Indian women. Students now have a great chance to continue their academic education at an academic institution abroad.  If you're planning to qualify for this scholarship, read the following information. This scholarship can be used for Masters-level courses in places including the United States, the United Kingdom, and Europe.  You should have at least two years of professional experience in your chosen industry.  Proof of financial status is another crucial document needed to be eligible for this government scholarship FAQs How can an Indian student get a scholarship to study abroad? There are many ways to get a scholarship to study abroad. One of the most common is academic excellence, Many scholarships have eligibility criteria where they evaluate students based on merit and check their overall academic performance before selecting them. The most common selection parameters are 12th board exam results, IELTS/TOEFL scores, extracurriculars, SOP, and LORs submitted by the candidates. Interviews play an important role in the selection process. How can I get a 100% scholarship to study abroad? To win a 100% scholarship to study abroad you need an excellent academic history and an overall high-caliber resume. Many scholarships like Fulbright or Rhodes offer 100% scholarships, you can apply for them and get your ticket to your dream school. Which scholarship is best for Indian students to study abroad? There are many scholarships for Indian students to study abroad such as: Fullbright-Nehru master’s scholarships Great Wall Program The JN Tata Endowment Scholarship Aga Khan Foundation International Scholarship Program Lady Meherbai D Tata Education Trust Scholarship Consult an expert advisor to get the right plan TALK TO AN EXPERT
Indira Gandhi Single Girl Child Scholarship: Invest in Success

Indira Gandhi Single Girl Child Scholarship: Invest in Success

The Indira Gandhi Single Girl Child Scholarship is a scheme that has been designed to promote gender equality and empower girls through education. The scholarship is an initiative that recognizes the struggles and challenges that girls face in pursuing higher education. It provides financial assistance to single girl children who wish to pursue higher education. The scholarship recognizes the importance of educating girls and empowering them to become self-reliant, independent, and contributing members of society. The scholarship is a means of encouraging girls to pursue their dreams. The scholarship has been designed to provide monetary support on a monthly basis for a period of two years to 3,000 girls from across the country every year. The scholarship amount is directly transferred into the awardee’s bank account, making it easy and convenient for the beneficiaries to access the funds. The scholarship amount of INR 3100 per month for 2 years, i.e., 10 months per year, covers the full duration of the postgraduate course to be pursued by the candidates. The scholarship provides not only financial support but also motivation and encouragement to girls who have the potential to excel in their chosen fields. The scholarship has the potential to transform the lives of thousands of girls across the country and pave the way for a more equitable and inclusive society. The scholarship also aims to promote gender equality and encourage families to educate their girl child. The scholarship is a step towards creating a more equitable and inclusive society where everyone has access to quality education and opportunities to succeed. The Truth about Winning Scholarship Read More The following awards are provided to the beneficiaries of this scholarship:- The single-girl child scholarship provides monetary support on a monthly basis for a period of two years to 3,000 girls from across the country every year. The scholarship amount is directly transferred into the awardee’s bank account. Also, the students need to submit a ‘Continuation Certificate’ at the end of every three months in the prescribed format. The chosen girl students receive a scholarship amount of INR 3100 per month for 2 years, i.e., 10 months per year, covering the full duration of the postgraduate course to be pursued by the candidates. The award is disbursed to students through the UGC-designated agency from the date of their joining the 1st year of the PG course. The awardees need to submit a copy of their award letter and joining report along with the photograph, address, and contact number to the designated agency. Eligibility Under the mentioned scholarship scheme, female students who do not have any brothers or who are twin or fraternal daughters can apply for the scholarship. However, if a family has one son and one daughter, the girl child will not be eligible for the scholarship. The scheme is open to girl students who are up to 30 years of age at the time of admission to PG courses. It is applicable only to single girl children who have been admitted to a regular, full-time first-year Master’s Degree program in a designated university or postgraduate college. Please note that the scholarship is available only to PG-I year students and does not apply to those enrolled in distance education programs. Fullbright Scholarship Program Read More Documents Required The following documents are to be submitted for this scholarship:- Students must require an Income Certificate and a Caste Certificate. Proof of admission is required. It is necessary to obtain the bank account information of both the educational institution and the student. The fee structure of the program. One copy of the passport-size photograph and signature of the student. Student Identity card An affidavit of ₹ 50 stamp paper from the parents/girl duly attested by the First Class Magistrate/ Gazetted Officer/ SDM mentioning that she is the only child in the family. Rhodes Scholarship Program Read More UGC may terminate the scholarship of any student in the case of the Misconduct of the awardees, if any, reported by the University/College/Institution. If a student in the first year of their Master's program receives a progress report indicating unsatisfactory performance (i.e. less than 60% marks for most students or less than 55% for physically challenged students), they may be considered at risk of losing their scholarship.  If a candidate is later found to be ineligible for the scholarship, they may face penalties and may be required to repay the entire amount of the scholarship that has already been paid to them. While initiatives like the Indira Gandhi Single Girl Child Scholarship are commendable, there is still a long way to go in terms of gender equality and access to education. It is important to continue to raise awareness about the importance of educating girls and to work towards creating a more inclusive and equitable society. By providing girls with the opportunity to pursue higher education, we are not only investing in their future but also in the future of our society as a whole. Conclusion Indira Gandhi Single Girl Child Scholarship is a significant step toward promoting gender equality and empowering girls through education. It provides financial assistance to single girl children who face financial constraints in pursuing higher education and encourages families to invest in the education of their daughters. The scholarship has the potential to transform the lives of thousands of girls across the country and pave the way for a more equitable and inclusive society. Talk To An Expert
Is Collateral Required for Education Loans?

Is Collateral Required for Education Loans?

The ever-increasing cost of education makes student loans a reality for many aspiring students. However, navigating the complexities of securing a loan can be overwhelming, especially when it comes to the topic of collateral. This blog aims to untangle the confusion surrounding collateral requirements for education loans and empower you to make informed decisions. Secured vs. Unsecured Education Loans: Understanding the Difference Imagine a loan as a promise to repay borrowed money. In a secured education loan, you offer collateral (an asset like property or a vehicle) as security. If you fail to repay the loan, the lender can seize this collateral to recoup their losses. Secured loans typically come with lower interest rates and allow you to borrow larger sums. However, the risk of losing your valuable asset is a significant drawback. On the other hand, unsecured education loans don't require collateral. This might sound ideal, but lenders compensate for the lack of security by charging higher interest rates and having stricter eligibility requirements. Generally, a strong credit score increases your chances of securing an unsecured loan. Factors Affecting Collateral Requirements Several factors influence whether a lender requires collateral for your education loan. Your credit score plays a crucial role. A limited credit history or a low credit score may make it more likely for lenders to seek the security of collateral. Here's another factor: guarantors or co-signers. These are individuals who essentially agree to take responsibility for your loan repayment if you default. Having a co-signer with a strong financial standing can improve your chances of getting an unsecured loan or a secured loan with a more favorable interest rate. Lenders may also consider the type of course you're pursuing, the loan amount you're requesting, and your academic record when deciding on collateral requirements. When is Collateral Typically Required for Education Loans? Let's look at some real-life situations where collateral is more likely to be a requirement: Loans for Large Amounts: If you need a substantial loan to cover your education expenses, lenders may seek additional security in the form of collateral to minimize their risk. Low Credit Score: Lenders might require collateral to offset the perceived higher risk of non-repayment if you have a limited credit history or a low credit score. Unestablished Career: Students without a stable job history may find it challenging to secure an unsecured loan, especially for a large amount. A co-signer or collateral can strengthen your application in such cases. When Can You Get an Unsecured Loan to Study Abroad? There are situations where unsecured loans are a viable option: Loans for Smaller Amounts: For smaller loan amounts, lenders might be more flexible and offer unsecured options with competitive interest rates. Strong Credit Score & Co-signer: A good credit score demonstrates your financial responsibility and increases your chances of securing an unsecured loan. A co-signer with a strong financial background can further strengthen your application. Specific Loan Programs: Government or scholarship-based loan programs may offer unsecured options with lower interest rates compared to private lenders. Additional Factors to Consider When Choosing an Education Loan Remember, collateral is just one piece of the puzzle when choosing an education loan. It's crucial to compare interest rates (fixed vs. variable) offered by different lenders. Fixed interest rates provide stability in your monthly payments, while variable rates can fluctuate over time. Don't neglect other loan features like repayment terms, processing fees, and prepayment options. These factors can significantly impact your overall loan experience. It's also wise to research scholarships, grants, and financial aid programs offered by your institution or government agencies. Reducing your reliance on loans can lessen your financial burden.
Is commonwealth scholarship enough to study in the UK?

Is commonwealth scholarship enough to study in the UK?

The intense education inflation and extremely higher fee structure leave little room for pursuing a higher degree course abroad at one’s expense. Students with genius brains cannot put their intellect to use due to the lack of appropriate funds.  At such times the Commonwealth Scholarship sponsored by Commonwealth Scholarship Commission (CSC) is a blessing in disguise for brilliant minds as it provides a much-deserved opportunity to boost their academic brilliance and skills. Apply for EduFund's Scholarships and make your dreams a reality! What is a Commonwealth scholarship? The Commonwealth Scholarship is a program initiated by the British government that provides fully-funded scholarships to deserving students residing within the Commonwealth countries. The scholarship program is funded by the UK Foreign, Commonwealth, and Development Office to attract talented individuals to UK universities and support sustainable development.   The Commonwealth Scholarship program is open to 800 students each year. The number keeps on increasing every year so that the CSC can make constructive changes on the global stage. Additional read: Questions to ask before sending a child to UK? Who can apply for a Commonwealth scholarship? A permanent resident or a citizen of a Commonwealth country. A refugee or a British-protected person. Students with an undergraduate honors degree of at least upper second class. Students applying for the Ph.D. program must have a Master’s degree. There is no minimum age for applying but the maximum age limit is 40 years.  For the academic year 2023, the CSC is accepting online applications from students of all majors. It has launched varied programs for both the Master's degree and Ph.D. levels for the students to choose from. How can you apply for the Commonwealth scholarship in the UK? The Commonwealth Scholarship Commission does not accept a direct application hence students can apply through the nominating bodies. These include government, non-governmental bodies, and charitable institutions.  Students have to visit the MHRD website and then the ECAS portal and apply to both before the stipulated deadlines. Additional read: Can your child do an MBA within 25 lakhs? List of documents required for the Commonwealth Scholarship in the UK Proof of citizenship. If the applicant is a refugee then the document that proves the refugee status. A full transcript with details of higher education qualifications. References of two persons should be submitted by the referee in the online application system. Supporting statement from the proposed supervisor in the UK.  Scan copy of the passport. A concise CV/resume Time to apply for Commonwealth scholarship 2024 The process for receiving applications is open between October to December and students should start checking on the official website even before the tentative dates.  Numerous programs under the Commonwealth Scholarships 2024 are open for applicants throughout the year hence interested students can log in to the website and find the timings for their preferred degree courses.   Funding by the Commonwealth Scholarship Commission and related benefits The Commonwealth Foundation provides grants of up to £200,000 (INR 18,464,000) to eligible students for four years as funding for the postgraduate degree courses. This is a fully-funded scholarship program by the UK government that covers all the expenses of the students. It includes Economy class airfare tickets for round trip. Transportation cost. Visa and travel fee. Medical expenses. Tuition fees. Textbook costs. Accommodation expenses. Allowance for woolen clothes during the winter season. Personal expenses - allowance of £1,133 (INR 104,599) per month and £1,190 (INR 109,860) per month for small cities and big cities respectively. The scholarship also covers family allowances if the couple stays for at least 18 months. It includes- Spouse allowance of £225 (INR 20,772) per month if the applicant and spouse are living together at the same address in the UK. Child allowance of £225 (INR 20,772) per month for the first child and £110 ( INR 10,155) per month for the second and third child under the age of 16 if the scholarship applicant is living with their spouse and children at the same address in the UK.  Child allowance of £450 (INR 41,544) per month for the first child and £110 (INR 10,155) per month for the second and third child under the age of 16 if the scholar is a single parent, divorced or widowed and is accompanied by the children and living at the same address in the UK.  Is the Commonwealth Scholarship enough to study in the UK? The Commonwealth Scholarship is enough to study in the UK as it is a fully funded program that covers both the study costs like tuition fees as well as related expenses. FAQs What is the commonwealth scholarship? The Commonwealth Scholarship is a program initiated by the British government that provides fully-funded scholarships to deserving students residing within the Commonwealth countries. The scholarship program is funded by the UK Foreign, Commonwealth, and Development Office to attract talented individuals to UK universities and support sustainable development. Conclusion The Commonwealth Scholarship is a golden chance for deserving students who are unable to study abroad just because of the lack of funds. The program offers opportunities to such students so that their dreams can come true. Consult an expert advisor to get the right plan TALK TO AN EXPERT