Obviously, I know what a school year is. But, what does the term Scrip Year mean?

Scrip Year is the term widely used in the scriping (gift card) world to designate the time period during which a school related charity earns its rebates from gift card sales. The Gene Grawe Fund pays its portion of your child’s tuition to the child’s school at the beginning of each school year. However, the Gene Grawe Fund is not a bank and cannot grant credit. So the tuition funds must be earned before they can be paid to the school. Those funds are earned during that school year’s preceding Scrip Year. Our Scrip Year starts on April 1st of one calendar year and ends on March 31st the next year. That Scrip Year is then followed by its associated school year which starts in August.