Scholarship or award given to a student entering his/her first year at a post-secondary institution. Also called an entrance award.
Award: Books, plaques, subscriptions or money given in recognition of outstanding achievement. A monetary award is usually called a scholarship or bursary.
Bursary: Non-repayable grant of money awarded primarily based on financial need, with marks also considered. Must demonstrate need.
Entrance award/scholarship: See admission award.
Fellowship: Monetary prize usually given to students doing a graduate degree, with academic average as a criteria. Graduate award: For students pursuing Master's or Doctorate degrees, often with a research component.
Grant: Non-repayable sum of money usually based on financial need with marks a factor.
In-course award/scholarship: For students enrolled in post-secondary studies beyond first-year level.
Loan: Financial assistance that must be repaid.
Prize: Usually a cash prize or trophy for top students.
Scholarship: Non-repayable sum of money to help finance higher education, mostly based on academic or athletic merit, rarely on financial need.
Undergraduate award/scholarship: Given to a student doing their first degree at a post-secondary institution.