Payments to new and continuing undergraduate scholarship holders are made by electronic funds transfer (EFT) to your nominated bank account in late April and late September after we have checked your enrolment status at Census each semester.
You also will need to advise Centrelink that you have been granted a scholarship as it may affect your payments.
You will be asked to provide your bank account details at the time of accepting your scholarship. When the payment has been sent to your bank account, you will receive an email to confirm that payment has been made. This is sent to your VU student email so please make sure you check your student email on a regular basis.
Generally, scholarships for full-time students are not taxable. You should obtain advice from your tax agent or refer to the Australian Tax Office.
If you need access to money before your scholarship payment is made, you can apply for a student loan or talk to our staff about other available financial support. Apply for a student loan as early as possible as it may take some time to be approved. You should advise the Loans Officer that you have been granted a scholarship, how much you will be paid and when. Your scholarship income may be taken into account when your loan application is assessed.
Changing your banking details
If your bank account details have changed, please fill out a new banking details form and return it to the Scholarships Office by mail, hand delivery, fax or email as indicated on the form before the next payment.