Elsie May Hewson Medical Student's Loan Fund [F20124]

A sum of $67,352 having been bequeathed to the University by Mrs Elsie May Webb (nee Hewson) for the purpose of establishing a loan fund to assist needy medical students in the third and subsequent years of the Bachelor of Medicine and Bachelor of Surgery (MB BS) course, a fund to be called the Elsie May Hewson Medical Students' Loan Fund is established for the purpose.

The fund is administered in accordance with the following regulations.

1. The income from the fund after capitalisation, in accordance with Senate policy, is used to provide loans to promising students in the third and subsequent years of the MB BS course who are financially handicapped.

2. The Vice-Chancellor may, having regard to the recommendation of the Dean of the Faculty of Medicine, Dentistry and Health Sciences, approve loans from the fund.

3. The maximum amount advanced to a student must not exceed the Tertiary Education Assistance Scheme allowance in any one year and shall not exceed three years' support in total.

4.(1) A student for whom a loan is approved must, before the money is paid, sign an agreement undertaking—

(a) to repay the loan within such time not exceeding three years from the end of his/her course and by such instalments as the Vice-Chancellor shall in each case decide; and

(b) to comply with such other terms and conditions as the Vice-Chancellor in each case decides.

(2) The student must pay any stamp duty payable on such agreement.

5. Interest is not charged on a loan during a student's course.

6. For the purposes of 4 and 5, a student's course is deemed to end on 31 December in the year in which the course was completed or for any reason discontinued.