Are the scholarships one-time awards?

 ​The $500 scholarships are all one-time awards. Winners must access their dollars by October 31, 2027 for the class of 2026, October 31, 2028 for the class of 2027, and October 31, 2029 for the class of 2028. The $40,000 dollars will be disbursed as installments  at the discretion of the winner and in consultation with their college or university. 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.