Renewable scholarships are scholarships where the student is awarded for multiple periods but future periods are contingent on maintaining some additional standard of eligibility. An example would be a four year scholarship where the student must maintain a certain GPA after the initial award period.
Whether a scholarship is renewable or not is determined by the Renewable to Student switch on the scholarship - Plan>Scholarships>General tab.
This setting includes setting the number of times a scholarship can be renewed. When a new cycle of the scholarship is created, students eligible for renewal are brought into the next scholarship for evaluation and awarding.
Scenarios for Changing the Setting
Scholarship in Draft - Awarding Status: The Renewable to Student setting can simply be changed prior to the scholarship being completed.
Scholarship Completed: If a scholarship is in a “Completed” status but has never been rolled over before, the scholarship can be moved back to the “Awarding” status and the toggle can be switched, either manually, or by exporting the scholarship and reimporting it with the change.
Scholarship Rolled Over: If a scholarship has already been rolled over, the new version of the scholarship can only have the Renewable toggle switched from its original setting (i.e., “Yes” or “No) via an import. However, the scholarship must be assigned a new cycle prior to exporting the scholarship and re-importing. The cycle can be changed back to what it was prior exporting. Be careful not to assign the scholarship to a closed Cycle before exporting if the scholarship still needs to open.
Other Important Things to Know about Renewable Scholarships
- Batch Students Before Rollover - Student awards must be batched/posted for their awards to carry over on the scholarship rollover process. Student awards not batched/posted prior to rolling over on a renewable scholarship must reapply, be nominated, or be auto-matched (for Direct Award) in order to award the students on the rolled over version of the scholarship.
- Reapplying - Students can reapply to renewable scholarships whether they are renewed or not.
- Direct Awards - Students can be pulled in through auto-match on a Direct Award whether the student is renewed or not.
- Renewable Scholarships Requiring Approval - Renewed students on scholarships requiring approval appear on the Notify tab immediately after publishing the rolled over scholarship. Renewal students bypass the Approval tab. This means renewal students can only be approved on the initial award offer, not subsequent renewals.