A Member Group can sponsor student awards for Universities (NB awards are not applicable to FE colleges or schools). The group wishing to award a student prize or prizes should include this in their budget submission for the year in which the prize(s) will be awarded. If the budget request for a prize is approved by the Finance Committee, the Member Group will be responsible for agreeing the criteria with the university and for presenting the award. The Member Group should make sure that the university understands that the Institute cannot give an indefinite commitment to give the same award in future years.
More detail including a Q&A is available at student-prizes.pdf
A Student Prize request from can be found here Student Prizes Request Form