Scholarships at top-tier schools seem to be in the order of a couple of hundred pounds a year (often coupled with an agreement to spend vast amounts of time contributing to whatever area the scholarship was awarded for). It's icing on the cake, but not enough to make a significant dent in the fees. Would a scholarship of £500 sway your decision when facing fees of five, six or seven thousand pounds a term?
Music scholarships can also include some instrument tuition, but the children often need to be playing at grade V or above to be considered. Families who have had the money or skills to bring their children to that standard are unlikely to find such an award truly life-changing / life-enhancing.
Bursaries are based on the economic circumstances of the families of high-achieving children, because the bursar has to defend why family X is being offered an assisted place. I believe they are also reviewed each year, so if family circumstances improve, the bursary support can be reduced or withdrawn.
Back to the original question, "offer" means a school has decided to allocate a place to the child. Now the ball is back in the family's court, so there's a brief shift of power. The family has a limited time (usually a fortnight at most) to consider that offer against other offers and make a choice. If you choose to accept the offer, deposits will be required promptly, followed closely by fees for the next term. You have also entered a legally binding agreement. If you change your mind later, for example if a school you prefer offers you a space in a later admissions round, the first school can and will pursue you for whatever fees they can recoup per the terms and conditions of the agreement you signed. Read ALL the fine print carefully before signing anything and maybe put relevant deadlines into your calendar.
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