Based on the changing higher education environment, we are considering some changes to our scholarship policy and would like to hear from other foundations. Scholarships are a big piece of our work and we want to make sure they continue to be relevant and serve students, as well as carry out our donors' wishes. Our scholarships are "last in" and we verify their college expenses prior to payment.
Do you allow scholarships to be deferred? If so, are there any established terms or conditions for deferring?
Do you allow unused scholarship money to carry forward to another year?
Can renewable scholarships be applied for graduate school if a student completes undergrad work with renewable years remaining on the scholarship?
How do you handle a renewable scholarship for a student who will complete undergrad work with renewable years remaining on the scholarship? Do they forfeit that money?
I would love to hear other scholarship issues your foundation is considering as well.