2. To review the Financial Aid policy on an annual basis and make recommendations for change to Vice-Chancellor’s Group.
3. To approve the criteria for the provision of:
- University Hardship Fund, International Fund, and Postgraduate Fund allocations
- Any other specific grants allocated by the Financial Aid Team
4. To review and approve updated Financial Aid procedures on an annual basis.
5. To set the maximum award and loan values that will normally be provided through the application process on an annual basis.
6. To monitor spend against allocated funds during each academic year, amend procedures in line with available funds, and ensure clear communication to students of any such changes.
7. To establish a nominated individual(s), usually the Chair or their nominee, responsible for approving emergency payments between meetings.
8. To receive for review a list of applications which have previously been considered and provisionally determined by the Financial Aid team which do not fall under any of the categories listed under 9. below, and verify or challenge these as appropriate.
9. To consider applications for Financial Aid in circumstances where:
- the assessed amount, whether as an award or a loan, exceeds £3,000 in an academic year;
- a student has exceeded the number of applications they are normally permitted to make during a single academic year, which is currently one, and where the Financial Aid team believes there is a reason to consider the applicant’s particular circumstances;
- the Financial Aid team believes that the circumstances around the application are complex or particular enough to require the Committee’s consideration;
10. To provide a decision, and reasons for that decision, in response to considerations listed under 9. above, which will form the basis of the Financial Aid team's written response to the applicant.
11. To provide a full audit trail for all decisions taken and further action required for review at following meetings.
12. To provide timely and accurate minutes for all meetings.
13. To receive reports on the amount of expenditure incurred from each fund, and any additional financial evidence required for oversight of the funds including number of students receiving assistance etc.
14. To monitor the distribution of Financial Aid and ensure that it is delivered in accordance with the Financial Aid Policy.
15. To monitor, on a regular basis, the spend in each of the allocated funds, with the support of the management accountant for Academic and Student Administration.
16. To carry out a year-end review of spend in each of the allocated funds, and set budgets for the following financial year, based on the evidence of need for each fund.
17. To report annually to Vice-Chancellor’s Group on the effectiveness of the University’s financial aid provision, including:
- end-of-year budget reports on spend vs available funds
- equality and diversity monitoring information
- data on the number of payments made to students
- data on the amount awarded per student
- data, as far as it can reliably be obtained, on the value of awards to students, expressed in terms of measurable outcomes.