The $500 scholarships are all one-time awards. Winners must access their dollars by October 31, 2024, for class of 2023, October 31, 2025, for class of 2024, and October 31, 2026 for class of 2025. The $40,000 dollars will be disbursed as installments based on what’s most advantageous to the student. The $40,000 awards are for undergraduate studies only and must be used by October 31 six years after high school graduation. Please refer to the official rules for more details.