Nothing wrong with applying for a bursary now before going to university, by the time you've graduated the training pipeline might be sorted out, but certainly at the moment, pilots are still constrained by the limits of what's available to train them.
Every single one of my friends who's graduated from IOT over the past 12-18months has had holding posts between IOT>EFT>BFJT. Until that gets sorted it doesn't matter how many jets are available at the end of the OCU.
If you don't get a bursary, don't let it put you off, they don't hand out many of them.