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The Army Scholarship Foundation awards one-year financial scholarships (not grants or loans) on an annual basis to qualified and deserving students. The amount of award ranges from $500 to $2000 for undergraduate studies at accredited educational/technical institutions. Scholarship recipients may apply to renew their scholarships annually for a total of four years of higher education. Renewal is not automatic, but depends on academic performance and continued academic eligibility. They are awarded on the basis of academic record and participation in school and community activities.