Section 5158 - Renewal of scholarship; transfers; unused scholarship funds; payments(a) Each State scholarship is renewable until the program of study is completed, but not to exceed an additional three academic years beyond the first year of the award or beyond an additional four academic years for students enrolled in five-year undergraduate programs of study approved by the agency. These may not necessarily be consecutive years and the scholarship will be terminated if the student receives his degree in a shorter period of time. Qualifications for renewal will include maintaining satisfactory academic standing, making normal progress toward completion of the course of study, and continued eligibility as determined by the agency including continual legal residency.(b) In the event that a scholarship recipient transfers from one institution to another, his scholarship shall be transferable only with the approval of the agency.(c) The agency shall have the right to use any or all of the unused scholarship funds for additional scholarships in any fiscal year and in any category.(d) Payments of State scholarships will be made by the agency in accordance with the rules and regulations established by the agency. Should the recipient terminate his enrollment for any reason during the academic year, the unused portion of the scholarship shall be returned to the Pennsylvania Higher Education Assistance Agency by the institution according to the institution's own policy for issuing refunds.1966, Jan. 25, P.L. (1965) 1546, § 8. Amended 1969, Dec. 18, P.L. 383, § 1; 1994, Oct. 5, P.L. 568, No. 83, § 4, effective in 60 days.