Eligible applicants who are renewals shall be given priority over initial applicants. Within these groups, applicants shall be ranked and awarded according to the submission date of their completed online application form. Recipients shall be notified in writing of a scholarship award. A recipient shall provide written acceptance of the award to the Office of Student Financial Assistance by the date specified in the award notice or the award shall be forfeited. Applicants who are not selected shall be placed on the waitlist pending the availability of funding. Applicants not selected in an academic year may reapply for consideration in a subsequent academic year, and shall be ranked according to the submission date of their completed online application form.