In the Student's Academic Profile, the GPA that displays will always default to the year GPA. Only when you click into the formula on the Academic Profile do you have the ability to choose what you are seeing. Here you can then choose Term or Cumulative.

Go to Academics
  1. Hover over Grades and select Grading Setup
  2. Select Calculations
  3. Click the pencil icon to Edit a Grade Average
  4. Select the Types tab on the top menu
  5. Make edits and click Save & Close

In the GPA settings, you can see the types tab which displays Term, Year to Date and Cumulative GPAs. However, selecting those types only applies to the Performance > Calculations section of Academics. This allows a school to create GPA rankings that can later be pulled onto lists, since currently GPAs calculate on the fly and cannot be pulled into lists otherwise.