In a statement sent to Connexions workers and 14 to 19 staff in local authorities, the government admitted that the initiative, which offered subsidised training in careers guidance, and learning and support services, had increased the number of under-represented groups in the profession.
But the statement said ministers considered the overall impact of the scheme to be insignificant.
A spokeswoman for the Department for Children, Schools and Families (DCSF) said the government's Careers Profession Taskforce would make new recommendations on how to attract people from diverse backgrounds to the careers guidance workforce.
"It's vital the careers workforce is made up of well-qualified people from diverse backgrounds," she said. "While the bursary was one way of attracting people to the profession, we believe there are more effective ways of doing this."
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