What's better – a fee waiver or a bursary?
Are some types of university funding better than others? In the case of fee waivers and bursaries, the latter is nearly always better news for your pocket. Find out more here…
That’s because bursaries are paid directly into your bank account – cash upfront. A fee waiver is taken off how much you pay in tuition fees, effectively reducing the amount you end up owing to the Student Loans Company.
Since a bursary allows you to decide how and when you want to use your money, it’s the better option for most students, especially when it’s estimated that not all students starting university in 2012 (under the new student finance system) will end up repaying all of their student loan anyway.
Of course, you might not get the option to decide on which type of funding you’d prefer – and a fee waiver will still reduce your overall debt. That’s particularly appealing if you’re likely to be a future top earner and therefore more likely to pay back your full student loan, or perhaps you’re really uncomfortable with the idea of student debt hanging over you.