Scholarship Programme: Terms and Conditions

Future Finance Loan Corporation Limited

May / June 2019

Future Finance Loan Corporation Limited (“Future Finance”) is proposing to offer a scholarship programme in 2019 where it will award up to 4 scholarships in the form of a payment for tuition and/or costs of living up to a combined GBP20,000(the “Scholarship Amount”)in accordance with these terms and conditions(the “Scholarship Programme”).

1. Eligibility:

To be eligible to apply for the Scholarship Programme and receive the Scholarship Amount, you must:

  • be 18 years and older;
  • currently living in the UK and be able to provide your residential UK address as part of the Application Process;
  • have the legal right to be resident and study in the United Kingdom during the academic year of study that is being supported by the Scholarship Programme;
  • be enrolled on a postgraduate degree in a UK university starting in September 2019 or intend to commence a full time postgraduate degree at a UK university in September 2019; and
  • complete the relevant Application Process (detailed below).

2. Application Process:

To apply for the Scholarship Programme, candidates must complete the application form online on our website, which can be accessed by clicking on the following link: www.futurefinance.com/scholarship/.

As part of your application, candidates will need to provide and/or complete the following:

  • Full Name, email address and phone number;
  • UK residential address;
  • Details of where you completed your undergraduate degree;
  • Details of the postgraduate course and university at which you will be commencing your studies in September 2019;
  • Course costs including tuition and/or cost of living;
  • An essay outlining why you should be selected for the Scholarship Programme (comprising of no more than 500 words);
  • Photograph that shows a clear image of your face, which (with your consent) will be used along with other personally identifying information when we advertise the Scholarship Programme;
  • Any documentation or media (including links to social media accounts) to support your application;
  • Any other documentation we require to process the application; and
  • Your acceptance to the terms and conditions of the Scholarship Programme and Future Finance’s privacy policy.

A Candidate should only make one application; if a candidate submits multiple applications, only the first application received will be considered by Future Finance for entry into the Scholarship Programme. Applications will open at 9am GMT on Friday 17 May 2019 and close at 5pm GMT on Friday 14 June 2019.

3. Selection of Shortlisted Candidates

Selection of Shortlisted Candidates will be selected from the pool of candidates who completed the Application Process (set out above) prior to the closing date for the submission of applications at 5pm GMT on Friday 14 June 2019 (the “Shortlisted Candidates”)

Our panel of judges will consider all applications received and the selection of Shortlisted Candidates will take place between 17 June 2019 and 21 June 2019 (as detailed below). The panel of judges will comprise of Future Finance representatives and an independent moderator.

In order to select Shortlisted Candidates, Future Finance may hold interviews and/or request additional information from candidates in relation to their application. The amount of funding requested by the candidate in their application will also be subject to an independent assessment by Future Finance to ensure that such amount is in line with the relevant university fees and average cost of living in the area.

4. Notification of Shortlisted Candidates

Shortlisted Candidates will be contacted by email in the week commencing 24 June 2019 to confirm they have been shortlisted. Candidates who were not shortlisted will not be notified.

Candidates will be asked when completing the application form to provide their consent for their personal details including their name, year of study, course of study, photograph and other relevant details submitted as part of their application to be published on Future Finance’s website and media platform Shortstack.com trading as Pancake Laboratories, Inc. (“Shortstack”)in order for public voting to take place to determine the selected Candidate(s) for the Scholarship Programme. Candidates are free to refuse such consent or withdraw it at any time.

Please note that Shortlisted Candidates will be subject to suitable searches of credit reference and fraud prevention agencies, as well as publically available records, to enable Future Finance to confirm and verify their identity before being announced by Future Finance as a Shortlisted Candidate. This is a necessary for Shortlisted Candidates to progress to the next stage of the process in accordance with these terms and conditions.

Future Finance will also provide each shortlisted Candidate with a sample contract setting out the terms and conditions of the Scholarship Programme (“Scholarship Contract”) which will be entered into between Future Finance and the Selected Candidate(s). One of the terms of the Scholarship Contract is that the Selected Candidate(s) will perform the role of ambassador(s) of Future Finance and have various roles and responsibilities (set out below at point II).

From the date a Shortlisted Candidate is notified pursuant to this paragraph, they will have 5 working days to respond, indicating if they wish to proceed with the public voting stage of the Scholarship Programme. If a Shortlisted Candidate does not respond to the notification within this timeframe, such candidate will be deemed not to have been shortlisted and will be taken to have been unsuccessful in their application for the Scholarship Programme.

5. Selection of Candidate(s) for the Scholarship Programme

With their consent the personal profiles and details of the Shortlisted Candidates will be uploaded on to a media platform hosted by Shortstack, on which the general public may cast votes for their preferred Shortlisted candidate, whom they consider to be the most deserving to be selected for the Scholarship Programme.

The public voting will take place from 9am GMT on Monday 8 July 2019 and close at 5pm GMT on Friday 19 July 2019. The votes will be counted by Shortstack.

If there is a tied vote between one or more Shortlisted Candidates, the panel of Future Finance judges will have the casting vote, based on the following criteria: a Shortlisted Candidate’s personal essay, merit, and other considerations determined to be relevant by our panel of judges in their sole discretion.

Once all the votes have been cast, its own discretion whether to award the £20,000 Scholarship Amount in full to the winning candidate, or whether to divide the sum between up to the four highest scoring candidates in the vote. In the event that multiple candidates are selected to receive part of the Scholarship Amount, Future Finance reserves the right to allocate a portion of the Scholarship Amount of GBP20,000 to each Selected Candidate as it may determine appropriate. The allocation will be based on the following criteria: tuition and verified cost of living expenses needed to complete the postgraduate course, and other considerations determined to be relevant by the Future Finance panel of judges in their sole discretion.

6. Notification of Candidate(s) selected for the Scholarship Programme

The Selected Candidate(s) will be notified by the email address provided in their application no later than 14 days following Friday 19 July 2019. Each Selected Candidate will be provided with the Scholarship Contract. The Selected Candidate(s) will have 5 days to review and accept the Scholarship Contract, together with any supporting documentation required by Future Finance to be accepted on the Scholarship Programme.

If a Selected Candidate does not return the completed Scholarship Contract with any required supporting documentation within the required timeframe and/or is not contactable at any point during that time, that Selected Candidate forfeits his/her rights to participate in the Scholarship Programme and Future Finance will have no liability to that selected Candidate. Future Finance may appoint an alternative candidate in place of such Selected Candidate.

Upon receipt by Future Finance of the completed Scholarship Contract and any supporting documentation, and subject to the Selected Candidate(s) consent, Future Finance will announce the selected Candidate(s) on its website, social media platforms, marketing channels and via email to Future Finance’s employees, customers, partners and other applicants of the Scholarship Programme. The announcement will also include a Press Release.

7. The Scholarship Programme

The Scholarship Amount will be divided into a tuition amount (“Tuition Amount”) and a cost of living amount (“Cost of Living Amount”) which be allocated based on the Selected Candidate(s) application form and will be set out in the Scholarship Contract and based on the criteria set out above.

Future Finance will pay the Tuition Amount directly to the relevant academic institution to pay all or part (as applicable) of the tuition fees owing by the relevant Selected Candidate to that academic institution.

The Cost of Living Amount will be transferred in one lump sum or in instalments during the academic year on the terms set out in the Scholarship Contract into a bank account nominated by the Selected Candidate. The Candidate must be the owner of the bank account.

Prior to the disbursement of the Scholarship Amount, Future Finance will complete an enrolment verification process to confirm that the Selected Candidate has fully enrolled in the relevant academic institution to complete the relevant course set out in the application form.

Disbursement dates of both Tuition Amount and Cost of Living Amount will be outlined in the Scholarship Contract and agreed by both Future Finance and the Selected Candidate.

If required, Future Finance will be able to provide confirmation to the relevant academic institution that the Selected Candidate has been selected to participate in the Scholarship Programme prior to their academic start date (subject to completing the enrolment verification process set out above). However, Future Finance will not be able to provide such confirmation if required by a Selected Candidate to prove the financial requirements needed during his or her visa application process.

8. General conditions of the Scholarship Programme

The terms of the Scholarship Programme include without limitation the following terms:

I. Media Platform and Privacy Policy

Future Finance has engaged with the services of Shortstack to provide a media platform on which Shortlisted Candidates’ information will be displayed publicly for a specified voting period. Candidates will be notified of their shortlisted status prior to their information being displayed on the media platform and the relevant voting period. Each Shortlisted Candidate(s) will be asked to provide consent for the disclosure and publication of their relevant personal details (as set out above). The media platform will be shared via Future Finance’s email lists, on our website, social media and marketing channels.

II. Ambassador Role

Each Selected Candidate will become an ambassador of Future Finance and have various roles and responsibilities such as featuring in Future Finance’s marketing materials and campaigns, being an advocate for Future Finance while studying, providing Future Finance with content on their experience at university, fulfilling potential speaking opportunities at student events and working with the Future Finance’s marketing team on various promotional projects. The full list of responsibilities of an ambassador are set out in the Scholarship Contract.

In addition, Shortlisted Candidates will be expected to update Future Finance and stay in contact with our team for the duration of their postgraduate degree.

III. Limitation of liability and indemnity

Future Finance will not be responsible for any damage, loss or injury resulting from the Scholarship Programme or a candidate’s acceptance and/or participation in the Scholarship Programme, or for technical, hardware or software failures, lost, faulty or unavailable network connections or difficulties of any kind that may limit or prohibit Future Finance’s offering of the Scholarship Programme (including but not limited to Future Finance’s attempts to notify shortlisted Candidates of proceeding to the next round or the Candidate whom has been selected to participate in the Scholarship Programme).

Nothing in these terms and conditions shall in any way limit Future Finance’s liability for death or personal injury caused by its negligence or for any liability which may not as a matter of law be limited. All Future Finance’s decisions in relation to the Scholarship Programme are final and binding in all respects and are not subject to appeal. Future Finance will not enter into any correspondence with candidates in respect of this Scholarship Programme (other than Shortlisted Candidates).

Future Finance’s failure to enforce any provision of these terms and conditions in a given instance shall not constitute the waiver of such provision. The provision of the Scholarship Programme does not imply endorsement by Future Finance of any academic institution nor any other third parties concerned in any way with the Scholarship Programme.

IV. Right to cancel, modify or disqualify

In the event that, for reasons beyond Future Finance’s reasonable control and not related to the Selected Candidate, Future Finance is unable to award the Scholarship Amount as described in these terms and conditions, Future Finance may award the cash value of the Scholarship Amount directly to the selected Candidate.

Future Finance reserves the right to modify, cancel, terminate or suspend the Scholarship Programme in whole or in part, at its sole discretion, if it believes the Scholarship Programme is not capable of being conducted as specified within these terms and conditions or in the event of a virus, a computer bug or unauthorised human intervention or any other cause that is beyond the reasonable control of Future Finance that could corrupt or affect the administration, security, impartiality or normal course of the Scholarship Programme. In such event, Future Finance shall use its reasonable efforts to make the Scholarship Programme available in a manner that is fair, appropriate and consistent with these terms and conditions as determined by Future Finance in its sole discretion.

Any candidate who acts with regard to the Scholarship Programme in a manner, which in Future Finance’s reasonable determination, is contrary to these terms and conditions or by its nature is unjust to other candidates (including without limitation tampering with the operation of the Scholarship Programme, providing false or misleading information when applying for the Scholarship Programme, cheating, hacking, deception or any other unfair playing practices such as intending to annoy, abuse, threaten or harass any other candidates or Future Finance and/or any of its agents or representatives) may be rejected and excluded from the Scholarship Programme at Future Finance’s sole discretion. If it is found or reasonably suspected that hacking or tampering was done to the second round of the selections process, which resulted in the results of the public voting being false, Future Finance reserves the right to disregard the results of the voting. Furthermore, where such actions have significantly impaired the Scholarship Programme, Future Finance may, at its sole discretion, add further stages to the selection process for the Scholarship Programme as it deems reasonably necessary in order to resolve any problems arising as a result of such actions.

V. Severability:

If any provision of these terms and conditions (or part of any provision) is found by any court or other authority of competent jurisdiction to be invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed not to form part of these terms and conditions and the validity and enforceability of the other provisions of these terms and conditions shall not be affected.

VI. Applicable law:

The Scholarship Programme and these terms and conditions shall be governed by and construed in accordance with English law and the courts of England and Wales will have exclusive jurisdiction in relation to any disputes. Where applicable, to the fullest extent permitted by law, any such dispute must be brought individually (not as part of a class action), with recovery being limited to a claimant’s direct actual costs in relation to their participation in the Scholarship Programme (if any) with all damages or other forms of recovery being expressly waived.

VII. Data Protection:

If you partake in the Scholarship Programme we will process your personal data as explained below.

During the application process we will collect the following information from you:

  • Full Name, email address and phone number;
  • UK residential address;
  • Details of where you completed your undergraduate degree;
  • Details of the postgraduate course and university at which you will be commencing your studies in September 2019;
  • Course costs including tuition and/or cost of living;
  • An essay outlining why you should be selected for the Scholarship Programme;
  • Photograph that shows a clear image of your face, which (with your consent) will be used along with other personally identifying information when we advertise the Scholarship Programme;
  • Any documentation or media (including links to social media accounts) to support your application;
  • Any other documentation we require to process the application; and

We need to use your personal data to administer the Scholarship Programme (e.g. to contact you and confirm your educational background). Please note that in the event you are a Shortlisted Candidate, we will undertake suitable searches of credit reference and fraud prevention agencies, as well as publically available records, to enable Future Finance to confirm and verify your identity before being announced by Future Finance as a Shortlisted Candidate. This is a necessary for Shortlisted Candidates to progress to the next stage of the process.

We would also like use your personal data to publicise Future Finance and the Scholarship Programme through our marketing channels including via Future Finance’s email lists, website and social media.

If you are shortlisted your name, year of study, photo and other relevant details will be published on Shortstack.com (operated by Pancake Laboratories, Inc.) so that the public can view and vote on the successful candidates.

If you are a successful candidate and become an ambassador for Future Finance, we will ask you to feature in marketing campaigns and provide us with information on your experience at university for marketing purposes.