Best Practices for Renewable Scholarships (when they are not specified)

Kathryn Roberts

Hello!

We are wondering what the best practices when renewing scholarships that do not have it specified in their criteria.

For example this scholarship states: "Established in her memory by her husband, Mr. XXX. One award annually from fund income to a [Institution location] area student showing need and majoring in criminology.”

Would this scholarship go to the student who received it last year, only if they met all criteria? What if the person who received it last year no longer shows need? Would it be renewed or would it go to a new student?

Thank you in advance!!

Joel Spiess

@Kathryn Roberts, our institution's practice is to treat the award as renewable unless it is expressly forbidden in the donor agreement. In the absence of specifics, renewable is possible, and it's less administrative work to renew than to find a new student. And yes, the student must continue to meet the criteria to be renewed, so if financial need is required but on the new FAFSA the student no longer demonstrates need, we would end the scholarship for that student and award someone new.

Michael Elliott

@Kathryn Roberts - We also automatically renew our Foundation scholarships as long as the student meets eligibility criteria such as GPA, need, major, etc. Unless expressly written in the agreement that it would be a one-time only scholarship, we automatically renew.