Can a College Scholarship Expire?
When a family thinks about how to pay for college, a scholarship can become an attractive goal because the student won't need to repay the funds. College loans, while often helpful, require future repayment. When searching for scholarships, a student should identify the application deadline and potential funding offered by each program. Some scholarships must be used within specified time periods or might not be renewed after the student meets certain criteria — in these situations, the scholarships might expire.
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Deadlines for Scholarship Applications
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Many programs offer scholarship opportunities of varying types. A student's online search for scholarships might result in a long list of potential funding — the amount of information might feel confusing or even overwhelming. One way to narrow down the list of options is to determine which scholarships have already expired in a given year. Scholarships usually include application deadlines. After the deadline has passed for the year, the award may be described as expired, or closed. An expired scholarship might not become available again until the following year. The student should focus her attention on scholarships for which she qualifies and to which she can still apply for the upcoming school year.
Scholarships for Entering Students
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Scholarships for entering students often need to be used by specified dates; otherwise, they expire, and the recipients might need to reapply for them. Initial scholarships or entering-student funds provide support for the first year of college. Berklee College of Music, for example, offers scholarships for entering students that recipients must use within one year. If the student hasn't enrolled in the college after that year has passed, he must discuss his options with the college and potentially reapply for the same funding.
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Renewable Scholarships
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Renewable scholarships often guarantee ongoing support during subsequent semesters or years of enrollment but eventually expire. For example, some scholarships guarantee renewal for up to four years. Other scholarships might provide funding for a longer period of time, such as an extra year or two, for students engaged in certain majors. Renewal often depends on the student remaining in good academic standing, maintaining a minimum grade-point-average or meeting other specified criteria. After the end of the renewal period, these scholarships might expire even if the student has not completed the degree. Whether an opportunity automatically expires after the end of the renewable period depends on the terms of the scholarship.
Maximum Award Scholarships
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Some scholarships expire when the student reaches a maximum award or meets another limit on the promised funding. A maximum award can set a limit on the total number of credit hours for which the student may use the scholarship funding. For example, the University of Georgia's Hope Scholarship includes a maximum award of support for 12 credit hours per semester and an overall limit of 127 accumulated or attempted credit hours. The student should understand whether a scholarship awards funding only up to a specified amount and plan accordingly to use the scholarship as efficiently as possible.
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References
- Indiana University Kokomo: Outside Scholarships Available for IU Kokomo Students
- Berklee College of Music: Scholarships - Frequently Asked Questions (FAQs)
- Bacone College: Bacone College Scholarship Programs
- University of Houston: Scholarships
- University of Georgia Office of Student Financial Aid: The Helping Outstanding Pupils Educationally (HOPE) Scholarship Program
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