Waitpool | Updated student information

Hello,

We are vey new to blackbaud and wondering what everyone does regarding student status as waitpool. For the following year I will need to change status (to applicant again) and somehow email parents to update/submit student information. How do I remove/change the student status from waitpool to applicant again?
How can I adjust in the student checklist to allow parents to upload updated report cards or diagnostic reports?

Can I send a mass email to all waitlist parents regarding uploading new information?

Any help is great. Feeling lost in BB.