(b)

1. (1) A scholarship shall correspond to fall, spring, and summer academic terms, semesters, quarters, or equivalent time periods at the eligible institutions.
2. (2) In no instance may the entire amount of the grant for an educational year be paid to or on behalf of students in advance.

(c)

1. (1) Provided sufficient funds are available, a scholarship shall be awarded for one (1) academic year, to include summer terms, and renewed annually for three (3) additional academic years if the following conditions for renewal are met:

   1. (A) The student maintains not less than a 3.0 grade point average on a 4.0 scholastic grading scale;
   2. (B) A student receiving a scholarship under 6 CAR § 401-207 maintains not less than a 3.25 grade point average on a 4.0 scholastic grading scale;
   3. (C) The recipient has successfully completed a total of at least twenty-seven (27) hours during the first full academic year and, if applicable, a total of at least thirty (30) hours per academic year thereafter; and
   4. (D) The recipient has met any other continuing eligibility criteria established by the Division of Higher Education.
2. (2) If a student who has continuously been a recipient of the scholarship for at least three (3) consecutive years is enrolled as a part-time student in the student's fourth academic year, the student shall be eligible to continue to receive the scholarship if the student has completed, by his or her fourth academic year, or is enrolled in, for his or her fourth academic year, the requisite number of credit hours to complete the student's degree program.