Purse can also be a synonym to bursary (which has the same origin), i.e. a monetary prize in a competition.
en.wikipedia.org Though a private university, eligible students are able to enjoy government tuition fee subsidy, government loans and bursaries for their undergraduate education.
en.wikipedia.org For example, he supported the advent of housing allowances, and the increase of bursaries for students.
en.wikipedia.org It has been replaced by a 180m bursary scheme focused on students from a less wealthy household than others.
en.wikipedia.org The financial aid provided may come in the form of loans, grants, bursaries, scholarships, fellowships, debt reduction, interest relief, and work programs.
en.wikipedia.org