Currently we can only edit a school year with a contract on it in CORE > Users > Edit user profile data > Student enrollment > Edit into a school year and there is a warning message that tells us there is a contract. The thing is that the message doesn't tell us that it will update the signed and returned contract to change the grade level and tuition to reflect the updated school year.
It would be beneficial for this to be more clear as this removes what the parent originally signed while keeping their signature in place.