This column can be edited, but the default is the begin date of the next year and term after the Default Current Year and Current Term designated in the Registration Configuration window. If you want to edit this column for one ID Number only, you can do so on the Student tab.
If you click the Create New Records button or Update Existing Records button, the process will use the Current Year and Term to validate that the student is registered and only then will the Next Year and Term be updated.