As a major project of the 25th Jubilee Celebrations, the College established the G. Lindsay Lockley Fund. It was designed to help students already in Cromwell College who were experiencing financial difficulties. The Fund was established in remembrance of the services of the Foundation Principal, the Rev Dr G. Lindsay Lockley who served the College from 1950-1969. Dr Lockley was recognized for his varied services to the College, for his broader contribution to the community of the University where he lectured on Church History, for his involvement in Theological Colleges, and for his leadership in the Australian church. The Board of Governors would appreciate financial support for this Bursary to keep the legacy of Rev Dr G. Lindsay Lockley going. 

In 2018 the Foundation approved the creation of the Remote Families Bursary Fund. This Fund is there to assist families either new or currently enrolled at Cromwell College whose primary home is in a remote location. The College uses the ABS definition map (2016) to define “remote” using the categories of “remote” and “very remote”. 

The University of Queensland partners with Cromwell College offering up to 2 scholarships per annum for students from low socio-economic backgrounds, recommended through the UQ Young Achievers Program. The scholarship covers the entirety of the students time at Cromwell college (up to 3 years). It is valued at $6,000 per year, per student.