If you haven't, er, shall we say, excelled in the academic area, there is always another route to the loot - need. Not to be confused with other pressing needs, such as deadline extensions, a date, or a purpose in life - this is good, old-fashioned financial need. A gift of money given to a student who demonstrates a genuine need is called a bursary.

But before you head out the door to spend this money in advance, remember a couple of things. You may not have to be the best student in your class, but you do have to demonstrate some sort of academic competency - like passing, and even maintaining, say, a B or C average. Primarily, though, bursaries are based on a demonstrated financial need.

Unlike some scholarships, you usually need to apply for bursaries. Colleges and universities tend to chase down high-grade students more aggressively than they do students who are broke. What do you need to qualify for these gifts? The following factors are considered:

• How good you look . . . on paper, that is. Some schools will take into account your resources, such as income and savings, along with those of your parents (if you are classified as a dependent student). They will also look to see that you've worked out a reasonable and responsible budget.

• Bursaries, like scholarships, are sometimes based on qualifying factors, like single-parent status, disability, etc.

• Bursaries sometimes look at outside activities that you've been involved in such as community work, athletics, leadership roles, and volunteer work. Since marks aren't the prime consideration in awarding bursaries, these other factors may be given closer attention.

• Check into bursaries that are offered to part-time students. Some students are part-time for the very reason that they are financially strapped. There are bursaries offered specifically for such students. Check with the department, faculty or mature student organization at your school to see what is offered.

• Many bursaries are specific to certain faculties or areas of study. It could be that some alumnus was cash-strapped as a student, then graduated, paid off his loan, and left some money to help other financially struggling students. There are many such bursaries. I have even come across an award for Pest Management - which has nothing to do with annoying roommates, I'm sure!

• If your parents have affiliations with service clubs, organizations, or a generous employer, especially a college or university, you may be eligible for certain bursaries or awards.

• Another potential bursary source is athletic teams or clubs. They may offer bursaries to members in need.

Other points to remember in the bursary bonanza game:

• Bursaries, like scholarships, have the disadvantage of being taxable on amounts over $3000. So if you do receive one, keep this in mind when planning your tax strategies.

• Because some bursaries are given out continuously as qualified students apply (until the money runs out) each year, you may find it pays big to apply at the earliest date possible (first come, first served!). There are more and more students dipping into a limited pool of funds.

• Like scholarships, some bursaries are open only to Canadian citizens. However, special private-donor bursaries for international students may be available at your school. Check with your campus international student or financial aid office.

• Dates for applying for bursaries will vary. It is best to apply at the beginning of the school year so as not to miss out. However, you should ask for this information from your school well in advance (when you apply for admission).

Work/Study Plans: The Gift with a Catch

• If you still haven't walked away with any of the prizes I've described so far, there is another option to consider: work/study programs. These financial creatures are a cross between a gift and a job: a little cash for a little work. As with bursaries, approval is based on need. The program is usually funded by the government, but run by your college or university through its financial aid office. It's not purely a gift, rather, it is a gift that you work off, usually in particular faculties or departments around campus.

• You may be asked to do anything from typing or photocopying to researching or making artwork to earn your approved amount, although the intent is to give you work related to your studies. Upon qualifying, you apply for the job you're most interested in. The pay for these positions is often decent (though not exorbitant), and may vary depending on the job.

Things to remember about work/study:

• Competition for this funding can be tough, so apply early at your school's financial aid office. Many work/study programs operate only until the money runs out, which happens pretty quickly these days.

• Some schools may approve additional work/study positions in mid-year, since not all approved students take advantage of their funding. Be sure to check back with the financial aid office later in the semester (usually in December).

• If there is a particular job you want (say, researching for a favourite prof), but there's no money currently set aside to pay you, see if the person you want to work for can create a work/study position. If approved, and you qualify, you may have a job and they may get a position that they normally couldn't have afforded to create. Definitely win-win all the way.

Summary

• Ask at your high school guidance office for information on scholarships for which you may be eligible.

• Read the large course calendars of various universities and colleges for information on scholarships and bursaries (some give quite detailed descriptions).

• Check directly with the financial aid, or scholarships and awards office at the universities or colleges you are applying to (some smaller schools have this office as part of a larger department). Plan your budget early and, if you will be in need of financial assistance, make an appointment two to three months before the start of school to discuss your options.

• Find out what is available to you through your affiliations with clubs or athletic teams.

• Check for opportunities through your parents' work, social, service, and professional affiliations.

• Do a search using the print and on-line resources that are available at your library or on the net.

• Consider whether you may qualify for assistance for being a member of a particular ethnic group, female, person with a disability, a single parent, etc.

• If you're already in college or university, check within your faculty or department to see whether any in-course scholarships exist. If you don't think you have a chance at one, drop in to your faculty anyway just to say hi.

• Apply early-12 months ahead for scholarships, and at the beginning of the school year for bursaries. Avoid missing an early deadline, and therefore a rapidly disappearing pile of cash that you could be enjoying.