(1) This Policy governs the administration of the loans and grants provided to students by Victoria University (VU) to assist them with meeting the cost of studying, as assessed and approved by Student Support. (2) HESF: Standard 2.2 Diversity and Equity (3) ESOS Act - National Code of Practice for Providers of Education and Training to Overseas Students 2018: Standard 6.1.6 Overseas Student Support Services (4) Standards for Registered Training Organisations (RTOs) 2015 (Cth) (5) All students meeting the criteria for a student loan or grant. (6) (7) Student Grant: an agreement by which VU provides financial aid to a student that does not have to be repaid. (8) Student Loan: an agreement by which VU provides financial aid to a student that has to be repaid. (9) VU Student Loan and Grant Fund: a fund administered by VU to assist students in financial need. (10) VU is committed to supporting students who may experience financial stress or financial barriers to success. The VU Student Loan and Grant Fund was established to assist students to meet the costs of living and studying. (11) The VU Student Loan and Grant Fund provides loans to eligible students for: (12) The VU Student Loan and Grant Fund provides one-off grants in circumstances: (13) The VU Student Loan and Grant Fund consists of the balances in Student Loan Funds held by VU together with any other monies designated by the University Council, donations or accrued through investment. (14) The Fund shall abide by VU's Privacy Policy and the Student Equity and Social Inclusion Policy. (15) Loans and Grants will be offered based upon an applicant's demonstrated need. The Fund shall operate to provide the maximum benefit to the maximum number of students. New applications will not be processed in the event that the Fund has allocated all available money. (16) All reasonable efforts will be made to ensure loans will be repaid with consideration being given to exceptional circumstances which impact a student’s financial wellbeing, capacity to repay the loan and thus capacity to continue in the course. (17) Student Grants are non-repayable. (18) The Senior Manager, Wellbeing Services is responsible for the management of the Student Loan and Grant Fund and will provide a report to the Chief Student Officer on the status of the Fund in November of each year.Student Loan and Grant Fund Policy
Section 1 - Summary
Section 2 - TEQSA/ASQA/ESOS Alignment
Section 3 - Scope
Section 4 - Definitions
Section 5 - Policy Statement
General Principles of Operations
Management and Reporting
Section 6 - Procedures
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