Presentation on theme: "Providing funding to students"— Presentation transcript:
1Providing funding to students Melbourne Scholarships Office (MSO) Melbourne School of Graduate Research (MSGR)Providing funding to studentsWill Shirriffs, MSOWai-Ling Michener, MSGR
2Providing funding to graduate students How the MSO and MSGR can assist in providing funds to graduate studentsWhat is a Studentship?Types of fundingBenefits, roles and responsibilitiesSetting up a StudentshipExtending a StudentshipStudentship tipsAdvertising the funding
3How the MSO and MSGR can assist Administering payment of funds (including allowances) via StudentshipsProcessing variations (e.g. Leave records, change of Themis account/s etc)Limited advertising within University of MelbourneMSGR:National and International advertising via JASON (Joint Academic Scholarship Online Network)Internal advertising via GradFlash (subscription-based weekly e-bulletin)
4Studentships What is a Studentship? A Studentship is a payment or payments made primarily for educational purposes to any student enrolled at the University of Melbourne, funded by any source and administered by the Melbourne Scholarships Office.A Studentship can be:A lump sum (one-off) payment (e.g. $2,000)An annual amount (e.g. $22,500 pa from 01/01/2010 to 31/12/2012 = 3 years)An amount for a specific period (e.g. $4,500 paid over a 3 month period)MSO pay dates are fortnightly.
5Department/School funds Types of fundingDepartment/School fundsFaculty/Graduate School funds (including Faculty based Scholarships, Trust funds etc)Supervisor funds/grantsExternal/Industry funds (e.g. ARC, CSIRO, NICTA, etc)Travel fundingSpecialist funding (e.g. CTS, prizes etc)
6Who can I provide a Studentship to? Studentships can be provided to any student enrolled in either an undergraduate, graduate coursework or graduate research degreeStudentships can be provided as a top up to a MSO scholarship, an equivalent or alternative to a MSO scholarship, a travel grant, a prize or other form of scholarship.
7Benefits, roles and responsibilities Benefits of Studentships:MSO manages payment of funds (including managing variations (leave, extensions etc) and payment of certain types of allowances attached to the funding.Payments to full time students are tax exempt (all payments to part time students are taxed)No cost to the Faculty/Department/Unit for the service provided by MSO
8Benefits, roles and responsibilities Funding Source: provide and continue providing funds. Inform Faculty/Department/Unit of any changes to the funding (i.e. new rate, termination, extension etc promptly). Liaise with the Faculty/Department/Unit.Faculty/Department/Unit: provide MSO with accurate advice on how the funding is to be set up, including correct Themis accounts (ensuring sufficient funds are available in each Themis account/s being used). Inform MSO of any changes to the funding (i.e. new rate, termination, extension etc promptly). Liaise with the Funding Source.
9Benefits, roles and responsibilities MSO: set up Studentship/s based on advice provided by Faculty/Department/Unit on the MSO2 New Studentship Request formMake variations (e.g. leave) and payment of allowances, as recipients apply, according to advice on MSO2 formLiaise with Faculty/Department/Unit to ensure recipients are receiving the correct entitlements
10Setting up a Studentship The MSO2 FormSetting up a StudentshipSection A is the Recipient Details section. This must be completed so that we know which student is to receive funding.Please complete all sections (including student number and the Other Scholarships/Previous Award section)All recipients must enter their banking details on the Student PortalPart time students will also need to submit a completed Tax File Number Declaration Form (available from the ATO, selected newsagents or the MSO)
11Setting up a Studentship Section BSection B is the Studentship Details section. This must be completed so that we know how much and when to pay the recipientPlease complete all relevant sections accurately.Only one of the three payment methods can be used per MSO2 form.Option 3 is the total amount to be paid over the period, not pro rata.Options 2 and 3 attract less tax than option 1 for part time recipientsEnsure that the Themis Account/s are correct, active and have been validated by the Finance and Planning Group. Incorrect accounts or accounts which have not been validated will result in delays of payment to the recipient.
12Setting up a Studentship Section CSection C is the Leave/Allowances section. This must be completed so that we know what paid leave and/or allowances the funding provides, if any.Please complete all sections accurately. If this section is left blank, we will assume that no paid leave or allowances are provided and we will inform the recipient as suchIf paid leave/allowances are the same as those for APA/MRS/MIRS, please write “as per GRS conditions”If applicable, please attach a copy of any contract/agreement regarding the funding.
13Setting up a Studentship Section DSection D is the Taxation Arrangements section. This must be completed to determine whether the payment/s are tax exempt.Please complete all sections accurately.Generally, payments which are made for educational purposes to full time students are tax exempt.When a payment forms part of an employment agreement or a contract for labour with the scholarship sponsor, the payment/s may not be tax exempt.All payments made to part time students are taxed
14Setting up a Studentship Sections E & FSection E is the Approval section.It is recommended that the recipient sign the form to indicate they are aware of the funding and the conditions/benefits attached to it.The Head of Department/Unit must sign this to indicate they approve the payment/s and that the information on the form is correct.Section F is for MSO use only.
15Extending a Studentship The MSO6 formThe MSO6 form is to be used to extend a studentship.As with the MSO2, the details of the recipient must be filled in (including student number and degree).
16Extending a Studentship The MSO6 formA brief report on the progress of the student must be completed. For RHD students, “As per Completion Report Form” will suffice.Enter the period of extension (noting that we cannot extend payments beyond a students submission date)Any changes to the Themis Account/s must also be entered.If nothing entered, MSO will assume there are no changes to amount or themis account/s and process the extension accordingly.
17Extending a Studentship The MSO6 formAs with the MSO2, the Head of Department/Unit must sign indicating approval to extend the payments and confirming that the information is correct.The final box is for MSO use only.
18Studentship tipsTo avoid delays or incorrect payment/s being made to recipients:Always ensure the information provided on the MSO2 and MSO6 is accurateEnsure Themis Account/s are activated AND validated by the Finance & Planning Group (these are two separate things) and have sufficient funds to continue payment.Inform MSO promptly of any changes that affect the payment/sFaculty's/Departments/Units should always keep copies of the forms to refer to if an issue arises.Be aware of MSO pay period cut off dates
19Advertising the funding MSO AdvertisingAdvertising the fundingThe MSO has limited scope for advertising funding, however we can:Post notices in the Student PortalDisplay flyers in our reception areaSend flyers/information to relevant Faculty’s/Departments/Units/Student CentresIn some cases, it may be possible to place information on the “Scholarship News” pages of the relevant cohorts section of the MSO website.Send the info to JASON/GradFlashConsider:Flyers with logos (1 page max), who the target is, always have a contact person available to answer queries and/or website for further information.