Cancel a Scholarship Award – Foundant Technologies

A entire scholarship award can be canceled, or it can be partially canceled by canceling individual payments. Perhaps the scholarship recipient lost eligibility for the scholarship before payment and the money needs to be transferred back into the granting fund or to an alternate student; or the scholarship award was refunded and the award money needs to be transferred back into the granting fund or to an alternate student.

Cancel Entire Scholarship Award

Cancel a scholarship award if the award is not moving forward but a record should be kept in the system.

Navigate to the Scholarships page.
Click the Open bucket.
Click the ID of the scholarship to be canceled.
Click Cancel in the left-side menu.
Enter the Cancel Date, and then click Cancel Scholarship.
- If the scholarship will be transferred to an alternate student, check the box next to Award to Alternate. Once the primary scholarship award is canceled, a new scholarship award will automatically be created for the alternate student.
- Check the box next to Terminated to indicate that the scholarship is terminated.
  - The award will move to the closed bucket regardless of checking the box next to Terminated when canceling a scholarship award.
  - If the scholarship award is canceled, the funds can be awarded again if the student changes their mind; however, if the scholarship award is terminated, there is no chance to award the student again.

A scholarship award must be open and unpaid in order to cancel. If no payments have been made, the entire amount will be canceled. However, if multiple payments exist, only the unpaid payment amount will appear in the Cancel Amount row within the Scholarship Recipient summary. If a scholarship check was returned before being cashed, enter it as a refund check (money coming in) to offset the expense.

Partially Cancel a Scholarship Award

Cancel individual scholarship payments for scholarships with multiple payments. Scholarship payments must be approved and the scholarship must be posted before he option to cancel a payment is available.

Navigate to the Scholarships page.
Click the Open bucket.
Click the ID of the scholarship to be partially canceled.
Click [cancel] next to the payment to be canceled.
Enter the Cancel Date, and then click Cancel.

The payment will display the amount and the cancel date. If the payment needs to be uncanceled, click [uncancel].

If your CommunitySuite site is synced to an SLM site, the installment cancellation will sync back to SLM.