Scholarship Deferral Policy
Every year we have a couple of students who wish to defer their scholarship for an academic year for one reason or another. Do you have a policy that states what your rules are and gives the reasons why a deferral would be granted? Is this a separate policy or written into your Scholarship Policy?
For a bit of background, we usually give students until September 15th of the year they are awarded to respond to us to pay out their scholarship; we have only ever deferred a scholarship for one academic year, but are wondering what standards are and would like a policy surrounding it. Feel free to email me directly at samantha@mainstreetfoundation.org as well!
Comments
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We have a policy that states we will hold a scholarship for one year. If you are going to institute a policy, it would be a good idea to address deferring scholarships for a year at the start but also address interruptions in the middle of a year or 4 years if the scholarship is renewable.
We need to be more specific, as we have students who take a semester off, or transfer, or go part-time and it's creating a circus as far as payout goes.
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We don't have a written policy, but we have an unspoken policy. We defer for one year when a student asks for deferring. I keep a record of our conversations and as long as it is a reasonable ask we assist the student.
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