Scholarship Payments to College/Universities
Looking to see how other scholarship providers handle their payments directly to the college/university and what workflows you have found to work best for your organization.
- Do you indicate on the letter sent with the scholarship check how to split the payments? We have always just said that the scholarship should be used within the same academic year that it is awarded and just leave it up to the school to split the scholarship however they want which they typically split the scholarship in half between the fall and spring semester. But I do sometimes I get institutions send forms directly to me asking how we should split the payment. Do you let the student decide?
- What information do you include payment letter about the recipient besides the scholarship name, recipient name and student ID?
- Do you confirm with the colleges/universities before sending the payments to make sure the students are enrolled? I've been contemplating sending emails to the financial office at the institution to make sure we are sending the check to the right place to let them know that scholarship funds are on the way before mailing the checks. I am trying to decrease the amount of follow up work after the payments are sent.
Any insights are helpful and if anyone has examples they would be willing to share of the letters they send, it would be greatly appreciated!