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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Hi Samantha! We're in the midst of formalizing our deferral policy now. This is what I've proposed to add to the current scholarship policy document:
Payment to the Educational Institution may be deferred, at the student’s request, for a period of up to one year from the original award date. Requests will be approved if the following conditions are met:
- Deferment is not expressly prohibited by the Fund Agreement
- The student provides documentation from their educational institution that their enrollment deferment has been approved. In other words, the student’s place at the institution is reserved for the next academic year.
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We have a deferral policy in place - Students may request a deferral (partial or full) for one year. Students must submit the request in writing and have one year to notify us of activation. After that, it is forfeited.
We are not very strict about reasons or the timing, as long as there are dollars unspent. Reasons have ranged from illness to transfer, and even to offset the negative impact of the school's financial aid displacement policies.
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We allow students to defer a scholarship for up to 2 years (to account for military or missionary service). When completing their acceptance form, there is a place to indicate a deferral. They do not need to select a post-secondary institution until their deferral is complete. Once the deferral time period is up, students must notify us of their school within 6 months or forfeit their scholarship.
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I think ours is quite good - sharing, in the hopes that it is helpful. We are reworking it for clarity and change in who they need to send the info to, but it might be a good place to start:
INTRODUCTION
BCF is committed to honoring the intent of our scholarship fund donors. Most donors intend that a scholarship award (or awards) will be made annually from their fund. In keeping with the intent of our scholarship fund donors, BCF generally requires that all scholarship be paid to the student’s account in the year of award.
POLICY
BCF recognizes that there may be exigent circumstances, such as personal health issues, military deployment or a family medical emergency, when a request for deferral of a scholarship award is appropriate. A student may apply for a deferral of their scholarship award by following the procedure outlined below.
Scholarship Deferment Requests will not be granted if:
• The student is eligible to reapply for the scholarship at such time as the student is ready for enrollment;
• The award is made from a fund where the agreement expressly prohibits deferment;
• The basis for the Scholarship Deferment Request will continue longer than one year;
• The basis for the Scholarship Deferment Request is for the student to take a “gap year.”
CONDITIONS FOR DEFERMENT
A. PERSONAL HEALTH ISSUES.
Please attach a letter from your medical provider documenting that you are currently unable to attend school due to medical, physical, or mental illness, injury, or disability issues. The letter should include an anticipated date when your medical provider will release you to pursue your education.
B. FAMILY MEDICAL EMERGENCY.
Please attach a letter from a medical provider documenting the family medical emergency. The letter should include an anticipated date when you will be able to pursue your education.
C. MILITARY DEPLOYMENT.
Please attach a letter from your commanding officer documenting the date of your deployment and the date of your anticipated return.
D. CHANGE IN FINANCIAL/LIFE CIRCUMSTANCES.
Scholarships may be deferred due to changes in their financial or life circumstances. Please include a personal statement detailing your current situation and the reason for requesting a deferment.
E. FORCE MAJEURE.
Scholarships may be deferred due to societal disruptions or circumstances beyond your reasonable control. Such disruptions and circumstances include, but are not limited to acts of God, riots, acts of war, epidemics or pandemics, or natural disasters such as fires, earthquakes, or tornados. Please include a personal statement detailing your current situation and the reason for requesting a deferment.
PROCEDURE
A. The student must complete the Scholarship Deferment Request Form attached as Schedule A. The
completed form (together with applicable documentation) must be submitted to the BCF Director of Grants and Programs BEFORE the deadline for submitting proof of enrollment listed in the Award Letter.
B. The decision to accept or reject the deferral request will be made by BCF’s Grants Committee.
C. If a deferral is denied by BCF’s Grants Committee, the student has the option to :- Attend school as anticipated and receive the scholarship in the year awarded;
- Forfeit the scholarship; or
- Appeal the decision to BCF’s Board of Directors.
D. If the request for deferral is approved, the student must remain in contact with the BCF Director of Grants and Programs regarding status of their enrollment. In the event proof of enrollment has not been provided to the Director of Grants and Programs on or before the anniversary of the date the deferment was approved, the student shall forfeit his/her scholarship award, and the monies shall be returned to the appropriate fund.
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