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Education - Finance and Expenses

Here you will learn some English words related to finance and expenses such as "tuition", "student loan", and "bursary".

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Words Related to Education
fee
fee
[noun]

the money that is paid to a professional or an organization for their services

Ex: The lawyer's fee for handling the case was quite high. 
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tuition
tuition
[noun]

an amount of money that one pays to receive an education, particularly in a university or college

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cost of attendance

the total estimated expenses a student can expect to incur while attending an educational institution

Ex: The financial aid office provided a breakdown of the cost of attendance for the upcoming academic year. 
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student loan

a loan taken out by a student to help pay for educational expenses, usually with the requirement to repay the borrowed amount with interest after completing their studies

Ex: She took out a student loan to cover the cost of tuition for her master's degree. 
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tuition assistance

financial support provided to help cover the cost of tuition for education or training

Ex: The company offers tuition assistance to employees pursuing further education. 
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funding
funding
[noun]

the act of providing money or capital to support a project, organization, or activity

Ex: The university depends on funding to maintain its facilities. 
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bursary
bursary
[noun]

a financial grant or scholarship typically awarded to support a student's education

Ex: The university awarded a bursary to the student who demonstrated exceptional academic achievement. 
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endowment
endowment
[noun]

money or property donated to an institution, the income from which is used for its support

Ex: The university's scholarship program is funded by its endowment. 
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grant
grant
[noun]

an amount of money given by the government or another organization for a specific purpose

Ex: The research team received a grant to fund their study on renewable energy. 
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school voucher

a government-funded certificate that parents can use to pay for tuition at a private or charter school

Ex: The government introduced a school voucher program to increase school choice for families. 
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sponsor
sponsor
[noun]

a person or organization that provides someone with financial supports for their education

Ex: He found a sponsor who would cover his tuition fees and living expenses. 
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sponsorship

the act of supporting or financing an individual, group, event, or activity, typically in exchange for advertising, promotion, or recognition

Ex: The sports team secured sponsorship from a local business to fund their uniforms and equipment. 
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scholarship

a sum of money given by an educational institution to someone with great ability in order to financially support their education

Ex: She received a full scholarship to study medicine at a prestigious university. 
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fellowship

a financial award or grant provided to support research, study, or professional development, often in academia or a specific field of study

Ex: She was awarded a fellowship to conduct research abroad for a year. 
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Pell Grant

a federal financial aid program in the United States that assists eligible undergraduate students with financial need in covering college expenses

Ex: She applied for a Pell Grant to help offset the cost of her college tuition. 
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Federal Work-Study Program

a United States government initiative that provides part-time employment opportunities for eligible college students to help finance their education

Ex: She participates in the Federal Work-Study Program to earn money for her college tuition. 
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Public Service Loan Forgiveness

a program in the United States that forgives remaining student loan balances after 120 qualifying payments for individuals working full-time in public service jobs

Ex: She applied for Public Service Loan Forgiveness after working for a non-profit. 
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scholar
scholar
[noun]

a person who is granted a scholarship or financial aid for their academic pursuits

Ex: She became a scholar after winning a prestigious award for her outstanding academic achievements. 
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