That means the caddy scholarship is available again and anyone who's interested should go see Judge Smails.
6 seconds sound clip from the Caddyshack (1980) movie soundboard.
You can hear this line at 00:15:35.428 in the Blu-ray version of the movie.
Quote context
[...]
- I heard he swallowed his vomit during a test.
- However it happened, he was a good caddy and a good kid.
- He was a brown nose, Lou. You hated him.
- Shut up.
- All right, let's move out. We got golfers waiting. Let's go.
- You, Angie, pick up that blood.
- What kind of grades do I need for this caddy scholarship deal?
- Well, if you've been a good caddy, I think they're kind of lenient.
[...]