^Conditions apply. Membership is open to citizens or permanent residents of Australia who are current or retired employees of the Australian education sector or family members of members of the Bank. Teachers Mutual Bank Limited ABN 30 087 650 459 AFSL/Australian Credit Licence 238981.
TERMS AND CONDITIONS AND ELIGIBILITY CRITERIA (‘the criteria’) OF THE FUTURE TEACHERS SCHOLARSHIP (‘FTS’) at TEACHERS MUTUAL BANK (‘TMB’)
You must, at the time of submitting your application:
- Be a member of Teachers Mutual Bank (‘TMB’) or, if not a member, be eligible to become a member under the constitution of TMB Ltd and agree to join if awarded a scholarship or runner-up fund.
- Be an Australian Citizen or permanent resident.
- Be able to provide evidence of current full-time study of a Bachelor, Diploma or Master of Education or Teaching at a tertiary education institution in Australia.
- Not be the recipient of any other scholarship from any other institution or government department.
- Agree to the Terms and Conditions and Eligibility Criteria.
- Agree to participate in TMB publicity and promotional initiatives.
- Agree to receive electronic communications from TMB keeping you up to date with news, information on our products, services and promotions via email and/or phone.
- Agree to receive account statements electronically (where available) instead of paper statements.
- Please note we don’t provide scholarships to HSC students about to enter their first year – this scholarship is for tertiary students who have begun their teaching studies.
Selection process and assessment
We are essentially looking for three things:
1. An excellent written application.
2. Financial need.
3. A passion for teaching.
TMB will assess submitted applications against the following criteria:
- The applicant has completed the form and provided all the requested data.
- The applicant meets all the stated Terms and Conditions and Eligibility Criteria.
- The applicant would benefit from financial assistance.
- The applicant has shown innovation and excellence in their written documentation.
- The applicant has demonstrated a passion for teaching.
- The winners and runners up may be chosen from a range of geographical locations.
- The weighting between these criteria is at the final discretion of Teachers Mutual Bank.
- The winners will be selected by nominated representatives of the TMB Sustainability Committee, and the Relationship Manager, Education.
- Applications that do not meet the requirements set out in the Terms and Conditions and Eligibility Criteria or applications received after the closing date will not be considered.
- Applications for scholarships will not be accepted from persons already affiliated with TMB at our absolute discretion.
- Applicants who may be chosen as winners may first be contacted for further evidence of financial circumstance.
- Winners and runners-up will only be awarded funds after their identity has been satisfactorily verified according to the TMB’s identification procedures.
- The FTS 2017 is $5,000 for each winner and will be paid in two equal instalments of $2,500.
- The first instalment will be paid in March 2017 following the announcement of the successful recipients.
- The second payment of $2,500 is conditional on additional reasonable information being provide to TMB in August 2017 (see below under ‘Key dates’).
Additional information includes:
Use of FTS funds
- Proof of enrolment in the next semester of their course.
- A copy of academic results from the previous semester.
- A copy of receipts.
- The amount awarded for any given scholarship is final and no additional funds will be provided in any one scholarship round.
- If the recipient does not successfully complete the year of study in which the Bank makes FTS payments to the recipient, TMB may seek reimbursements of the money awarded.
- A further 10 applicants will receive a runner up prize of $250 paid into their TMB Everyday account. This may be used for any purpose the recipient feels will assist their studies.
- The FTS must only be used for the purposes outlined and budgeted for in the application form. The applicant is responsible for keeping receipts for all expenses. A written copy of the receipts together with a summary of expenses must be provided to TMB within the time frames set out under Key Dates.
- All expenditure of funds must be consistent with the criteria, and the recipient is accountable for the use of these funds.
Examples for which the funds may be used include:
1 November 2016 – 23 February 2017
- HECS, textbooks and course fees, travel to and from campus or schools where teaching is being completed, residential school expenses e.g. computer equipment, photocopying.
- Application process is open – all applicants receive an electronic acknowledgment on receipt of their submission. Deadline for all applications is by 5.00pm AEDST 23 February 2017.
- All applicants informed of the decision made by nominated representatives of the TMB Bank Sustainability Committee, and the Relationship Manager, Education.
- Winners are contacted by TMB to discuss publicity activity.
- Successful applicants receive the first payment of $2,500 deposited into their Teachers Mutual Bank Everyday account.
- Runners-up receive $250 deposited into their Teachers Mutual Bank Everyday account.
Responsibilities of the applicant
- Applicants provide their Semester 1 transcript results, proof of enrolment for Semester 2 and a written summary of their expenses to TMB.
- On receipt of this information and approval, applicants receive second payment of $2,500 deposited into their TMB Everyday account.
- You must submit a completed on line FTS application form and all supporting documentation by the advertised closing date.
- We do not accept applications submitted by email, post, printed copy or fax.
- An offer of a scholarship to an applicant will be dependent on meeting Terms and Conditions and Eligibility Criteria.
- If the applicant wishes to vary their programme of study for example, change their subjects or their place of study, they must provide a written request to TMB to vary the conditions of the scholarship.
- The 2017 FTS grant is provided in two tranches of $2,500 each, as set out in the Key Dates.
- Receipt of the grant is on the basis that the successful applicants meet the Terms and Conditions and Selection Criteria.
- If a successful applicant faces unforeseen or changed circumstances that would vary the Terms and Conditions and Selection Criteria a request for changes must be put in writing to TMB within 14 days of those circumstances arising.
- TMB will review any variations of circumstance and treat them with compassion, but reserves the right to seek reimbursement of funds, or non-payment of the second tranche, if the Terms and Conditions and Selection Criteria are not met.
- TMB cannot provide you with advice on any tax consequences or impact on Centrelink as a result of receiving scholarship funds. You should seek your own independent advice.
Privacy information statement
Collection hold and use of personal information
- We collect, hold and use personal information about you:
- to assess your application for a FTS.
- to provide you with the results of your application.
- to provide you with information about membership benefits and our services and products and those of our partners.
How we collect personal information?
Whenever it is reasonable and practical to do so, we will collect personal information directly from you.
What if you do not wish to provide us with information?
If you do not give us the personal information we require, we will not be able to assess your application for a scholarship.
Providing personal information about you to other organisations
In providing our financial services and products to you, it may be necessary for us to disclose personal information about you to other organisations who assist us in providing products and services. We do not disclose sensitive personal information without your permission or instruction.
- You may access your personal information at any time by asking us. We may charge you a fee for this. We will tell you what the fee is at the time. If you ask us to correct any personal information we hold, we will do so without cost to you.
Our Privacy and Credit Reporting Policy is available at tmbank.com.au/privacy
amongst other things, the Policy contains information about:
Providing personal information about you to overseas recipients
- how you can access personal information about you.
- how you can correct personal information about you.
- how you can complain if you think we may have breached your privacy and how we will deal with your complaint.
Depending on our commercial arrangements, we may disclose personal information about you to business partners with operations overseas. If we do so, we will ensure that personal information about you is handled and kept secure in the same way as it is in Australia.
Issued by Teachers Mutual Bank Limited (Version November 2016)