The Reitz Scholars will be selected by a faculty-staff committee, and the scholarships will be renewable annually up to a total of three years. Renewal will be determined by the selection committee after reviewing the performance of the Scholars each year.

Undergraduate students will be selected as "Reitz Scholars" each year. Emphasis will be placed upon identifying students from a broad spectrum of university life, including academic, political, religious, recreational, and service organizations. Students selected to be "Reitz Scholars" receive educational enhancements and an intentional leadership program that requires extensive participation. Note that this is not a scholarship program and scholarship funds will not be disbursed.

The selection process for the J. Wayne Reitz Scholar Program takes place at the conclusion of each spring semester to select up to 25 scholars. The process is highly selective and usually attracts approximately 90 qualified candidates.