Need your help !

snowbird

Hi everyone,
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I need your help on how to interpreted the following sentence, which is excerpted from a UA document.
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"A student's progress is evaluated on completion of academic studies for Fall/Winter"
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My question is which of the following two interpretations is correct?
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3 X6 r! N( o: I  C5 O1. The progress will be evaluated on completion of Fall studies (First year student)
6 g( D& ~, M. A1 }7 g2. The progress will NOT be evaluated UNTIL completion of both Fall and Winter terms?

Thanks for your help !

Salmon162

"A student's progress is evaluated on completion of academic studies for Fall/Winter" means the evaluation would be made at the end of each of Fall semester and Winter semester.

snowbird

Thanks Salmon, much appreciated !