(a) An Arkansas Governor's Scholarship or Arkansas Governor's Distinguished Scholarship may be awarded annually for a period not to exceed an academic year.
(b)
(1) A scholarship shall correspond to academic terms, semesters, quarters, or equivalent time periods at the eligible institutions.
(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) Provided sufficient funds are available, a scholarship shall be awarded for one (1) academic year and renewed annually for three (3) additional academic years if the following conditions for renewal are met:
(1) The student maintains not less than a 3.0 grade point average on a 4.0 scholastic grading scale;
(2) A student receiving a scholarship under § 6-82-312(a) maintains not less than a 3.25 grade point average on a 4.0 scholastic grading scale;
(3) 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) The recipient has met any other continuing eligibility criteria established by the Department of Higher Education.
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