(1) This procedure supports the allocation of funds from the University of Newcastle Loans Scheme. The Scheme provides assistance to (2) The Student Loans Scheme is administered by Student Central. (3) The Student Loans and Grants Advisory Group (SLGAG) - an advisory group to the Deputy Vice-Chancellor (Academic) and Vice President - oversees the Student Loans Scheme. (4) The SLGAG meets on at least a quarterly basis to: (5) The Loan Fund is initially established by the allocation of a sum of money on the basis of a recommendation from the SLGAG. (6) Careful monitoring of the fund's resources and effective follow-up procedures by Student Equity and AccessAbility and Finance will ensure a high rate of repayment of loans. (7) The fund will therefore be relatively self-sufficient, but will receive occasional annual "topping up" on the recommendation of the SLGAG. (8) Loans are available to meet urgent, short-term needs. These may include: (9) In certain circumstances, loans may be available for transport expenses - repairs to, registration or insurance of (10) Loans are not generally available for tuition fees except (11) A (12) The (13) Loans are offered for a maximum (14) The following loan conditions apply: (15) Exceptional circumstances such as unavoidable family circumstances, illness, accident etc. may be considered by the Associate Director, Student Wellbeing, in relation to loans for tuition fees, (16) In such instances, the Senior Manager, AccessAbility and Support will refer the request to the Advisory Group who will seek approval from the Pro Vice-Chancellor Student Experience and Academic Registrar. (17) Loan approvals will comply with the Delegations Schedule in the Delegation of Authority Policy. (18) Loans and repayments will be monitored at the meetings of the Advisory Committee. (19) In addition, the Manager, Transactional Services will arrange for a financial report to be produced at each month end detailing amounts loaned and amounts repaid. (20) This report will be given to the Wellbeing Advisors, the Health and Welfare Coordinator and the Commercial Manager, Financial Services. (21) The Health and Welfare Coordinator and the Wellbeing Advisors will monitor the Loan Fund on an ongoing basis with the help of the monthly financial reports to ensure that loans are not advanced for more than the annual budgetary allocation and to monitor the accumulation of bad and/or doubtful debts.Loans Scheme Procedure
Section 1 - Introduction
Section 2 - Procedure
Administration and Management
Establishment of Loan Fund
Approved Purposes
Eligibility
Terms of Loans
Loan Conditions
Exceptional Circumstances
Delegations
Review of Loan Fund
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This is not a current document. It has been repealed and is no longer in force.