Academic Scholarships for first year students of the College are awarded on the basis of ATAR scores or equivalent, without means tests. They are valued between $1,000 and $5,000 per annum and are paid by means of a reduction in fees. For returning students, or for students who are new to the College but are in their second or third year of studies, Scholarships are awarded on the basis of university results. Many of the scholarships are named for their benefactor. There are no applications required for Academic Scholarships, as all students are considered.
All Graduate and Post Graduate students accepted into Newman College automatically receive a scholarship of $3,000 per annum. Further scholarships and bursaries are available and are awarded on the basis of university results and financial circumstances. They range from $1,000 to $10,000 per annum.
Students (whether undergraduate or graduate) may hold a Bursary and a Scholarship at the same time.
In 2016, over 190 students in the College were awarded bursaries or scholarships.