Awards and Financial Information

VICTORIA UNIVERSITY POLICY on STUDENT AWARDS

General Policy Statement

1. Preamble
This policy applies to all student awards established in Victoria College and Emmanuel College of Victoria University. Its purpose is to ensure that the procedures followed in establishing such awards and in determining who will receive them are clear and consistent.

2. Definitions
a) “AWARD” is a generic term used to indicate an item of financial or other value presented to a student based on academic achievement or financial need.
b) “SCHOLARSHIP” is a financial award given on the basis of academic achievement.
c) “PRIZE” is a financial award (usually of smaller value) given for proficiency in a specific subject or course(s). Selection criteria other than performance in a course or courses (i.e. an essay competition) may also be used.
d) “MEDAL” is a university medal awarded to a graduating student on the basis of his or her overall superior academic performance.
e) “BURSARY” (Grant) is a financial award given to students on the basis of demonstrated financial need. Other selection criteria (such as extracurricular involvement) may also be used.
f) “OSAP” – the Ontario Student Assistance Program provides government funded repayable loans and non-repayment grants to eligible Ontario students.
g) “UTAPS” is University of Toronto Advance Planning for Students. UTAPS grant support is provided by the University to students whose assessed need is greater than government aid will cover.
h) “OSOTF AWARDS” are awards established through the Ontario Student Opportunity Trust Fund program. These awards are given to students who have financial need and are Ontario residents. (Residency defined as having lived in Ontario for 12 months prior to the beginning post-secondary studies.)

3. Principles
a) The purpose of the Victoria University Awards program is to attract, recognize and reward academic achievement, and to ensure accessibility for students registered in one of the Colleges of Victoria University.
b) The terms and conditions of all awards established since 1990 must comply with the Ontario Human Rights Code and must be free of criteria based on personal characteristics such as race, ancestry, colour, ethnic origin, sex, creed, age, marital status, family status, sexual orientation or disability. Victoria will continue to offer a few long established awards which are for men students only or women students only.
c) The policies and procedures of the Victoria University Awards program are developed and approved by the Senate Executive Committee.
d) Except where otherwise stated in the terms of an award, recipients must be registered at Victoria College and must be pursuing their first undergraduate degree, or be registered at Emmanuel College.

4. Establish New Awards
a) Gifts of funds for endowed awards are managed by the Bursar in accordance with the Board of Regents’ Statement of Investment Policies and Guidelines for Endowment and Pension Funds, with the intent that the real capital value of the funds will be maintained in perpetuity.
b) Terms proposed by donors must be approved by the Senate Executive Committee.
c) Terms laid down in bequests must be approved by the Senate Executive Committee.
d) New Awards are subject to the Victoria University policy on Donor Recognition.
e) Victoria University will provide the donor annually with a report on the status of their endowed fund. In the case of scholarships, but not bursaries, donors will be notified of the names of recipients. The University may provide this information to a member of the donor’s family after the death of the donor.
f) A named award may be established in Victoria University for a minimum endowment of $25,000. Where a donor wishes to establish an annually-funded named award, the commitment must be for an annual amount of at least $1,000, normally for a period of five years. Senate approval is required for the name and award terms. Donations of any amount to any Victoria University award fund are welcomed, and will be appropriately acknowledged.

5. Granting of Awards
a) The awarding body is the Senate Executive Committee on the authority of the Senate of Victoria University, which from time to time empowers the University Registrar to make decisions concerning awards based on clear guidelines.
b) For awards presented at graduation, the Senate is the awarding body on recommendation of the Senate Executive Committee.
c) To avoid conflict of interest, donors are not permitted to participate in the selection of recipients for awards for which they are the donor.
d) In determining financial need, the Senate Executive Committee relies on the OSAP need-assessment process and the UTAPS program at the University of Toronto. Alternative needs assessment methods may be used where financial need is not captured by OSAP.
e) All scholarship recipients MUST be in good standing (CGPA of 1.50+ (Victoria College) or CGPA 2.70+ (Emmanuel College) to receive an award.

6. Protection of Awards Information
Personal information about students and donors collected for the purpose of administering Victoria University’s financial assistance and awards program, is collected under the authority granted to the Victoria University Act 1951, as amended 1981. At all times it will be treated and protected in accordance with the Freedom of Information and Protection of Privacy Act.

7. Outside Awards
Victoria University may provide assistance to external agencies providing scholarship and awards, where these might potentially benefit our students and where this has been approved by the Senate Executive Committee.

These policies will be reviewed by the Senate Executive Committee at least every three years. 

Current Students