The following policy sets out the types of scholarships, bursaries, prizes and other support for students funded by the University and/or from external sources other than the State and Commonwealth Governments that may be established by the University, the minimum level of support for each type, and responsibilities concerning the establishment and acceptance of these awards.
1.1 Scholarship – for the purposes of this policy, Scholarship means any Scholarship, Bursary, Prize or other type of award which has a monetary value as defined in the attached Schedule: Student Scholarship Definitions and Amounts.
1.2 Endowed Funds - are funds that are invested to provide income in perpetuity. Each year a portion of the income generated from the principal is released to be used for the specific purpose for which the fund was established.
2. The University of the Sunshine Coast awards scholarships to students in order to attract, retain and support its students and to encourage and reward excellence.
3. The types of support awarded to students of the University of the Sunshine Coast are specified in the attached Schedule: Student Scholarship Definitions and Amounts.
4. The funding for scholarships may be provided by the University or donors/sponsors.
5. Scholarships will be established and managed in accordance with written procedures which are approved by the Vice-Chancellor and President.
6. The establishment of scholarships to the total value of A$15,000 (over the duration of the award) may be approved by the Senior Deputy Vice-Chancellor.
7. The establishment of scholarships above the value of A$15,000 per award will be approved by Academic Board.
8. Any revisions to this policy will be made in consultation with the Executive Officer, University Foundation.
Schedule: Student scholarship definitions and amounts
|Award||Definition||Funding requirements – Indicative amounts, Option 1: Direct Funded Annual Gift (min)||Funding requirements – Indicative amounts, Option 1: Number of years if direct funded (min)||Funding requirements – Indicative amounts, Option 2: Endowed|
|Scholarship||Awarded to a student based on academic merit. Financial need and leadership in extra-curricular or community activities may also be taken into consideration.||A$5,000||3||A$100,000|
|Bursary||Awarded to a student of good academic standing and will be based on financial need.||A$1,000||3||A$20,000|
|Prize||Awarded to a student to recognise specific academic achievement.||A$500||3||A$10,000|
|Postgraduate Research Scholarship||Awarded to a student based on research potential and academic performance.||A$20,000||3||A$400,000|
|Special Purpose Grant||Awarded to a student for a specific purpose||Any amount||–||Not applicable|