Medical Department—Student Loan Fund [F20125]

A sum of $2000 having been made available to the University by the Western Australian Medical Department, to be held on trust as a loan fund to assist medical students in times of financial stress, the fund is administered by the University in accordance with the following regulations.

1. The Vice-Chancellor may, on the recommendation of the Dean of the Faculty of Medicine, Dentistry and Health Sciences, approve loans from the fund.

2. Only students in the fifth or sixth years of the course for the degrees of Bachelor of Medicine and Bachelor of Surgery are eligible to apply.

3. An applicant must satisfy the Dean—

(a) that without financial assistance from the fund he would be obliged to withdraw from his course or so limit his expenses as seriously to impair his chances of success in his course;

(b) that all other avenues of financial assistance have been unsuccessfully explored;

(c) that he is of good character; and

(d) that his ability warrants special recognition.

4. The maximum amount advanced to a student must not exceed $400 in total.

5.(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 four years from the end of his course and by such instalments as the Vice-Chancellor in each case decides;

(b) to pay interest at five per cent per annum from the end of his course on the reducing amount of his debt at half-yearly intervals; and

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

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

6. No interest is charged on a loan during the student's course.

7. For the purposes of 5 and 6, 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.

8. Money not out on loan is invested by the University with other trust funds; the interest therefrom is added to the principal sum of the loan fund.

9. The University provides the Faculty of Medicine, Dentistry and Health Sciences with an annual financial statement showing the operations of the trust fund.