Writing an application letter to the Bursary of the college/university is extremely important and keeping a proper format is even more so. If your application is well formatted it will obviously raise your chances of acceptance. You do not need to be an expert writer to make an application for funding for your studies. You also do not have to write a comprehensive proposal etc. Just be accurate, compact and to the point. Just make sure you answer all possible queries that can pop up in the mind of the person who is the final authority on deciding about the funds. Even an ordinary application can be accepted provided you have addressed some genuine and basic requirements.
Start opening of the letter by mentioning the reference through which you have learned about the bursary and then explain in the same sentence that you would like to apply for the financial support for your studies.
In second paragraph give details of your course, costs and how important is the course and overall studies for you, which due to lack of your ability to fund can be affected. You can also reflect on your recent past or recent academic achievements and record to better plead your case.
Closing paragraph should a formal request for the bursary and offering thanks to the college/university in advance.
Close the letter with your name and signature if you are sending it through post.