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Loans
Loans are awarded to applicants based on their need and family income. Loans are also always linked to interest rates. If you receive a loan you would be required to repay the loan in full as well as the accumulated interest.
Bursaries
Bursaries vary in amounts and professions and are given to students in order to further their studies. In return for funding your studies, the company may require you to repay them by signing a work contract with them. Another type of bursary is a donor bursary (a bursary awarded to a deserving candidate in a specific field of study or in recognition for his/her work in a specific field of study).
Scholarship
A scholarship is a financial award usually given to students based on their outstanding academic achievements. Recipients are not always expected to repay or work back the money they receive.
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