Do scholarships expire?

Scholarships are free money gifted to a student to support their educational expenses which are governed by a set of criteria that outline how the money can be used - keeping in mind that they are not by any means permanent prizes. Most scholarships, like many types of financial aid, have an impending expiration date. Every scholarship provider has its own terms and conditions which they expect winners to abide by. Depending on the rules, scholarship winners often have to use the funds by a certain timeline, or the money will be forfeited.

While some scholarships renew their funds for four years, others do not. Most scholarship prizes can only fund college tuition for one year, and expire after that use. For example, if you receive a scholarship that covers all your finances for your freshman year of college there is no guarantee that it will be rewarded for your consecutive years as well. In these cases, students are encouraged to reapply if eligible. You should speak with your scholarship provider about the circumstances surrounding your scholarship and your potential re-application.