Understanding the Difference Between a Bursary and a Student Loan

Many students use the terms 'bursary' and 'loan' interchangeably, but they are very different forms of financial aid. **Bursaries**: * Usually based on financial need or academic merit. * Does not need to be repaid (though there may be a service contract). * Covers tuition and often other expenses. **Student Loans**: * Must be repaid with interest. * The student is responsible for the debt after graduation. * Commonly provided by banks or government schemes. Choosing the right option depends on your financial situation and career plans. Always prioritize bursaries where possible!