The scholarship value may be reduced if the tuition charge is decreased for an academic term in which a WAVE recipient drops one or more classes.

(1) If a WAVE recipient drops a class or withdraws within the institution's tuition refund period, the student must reimburse the difference between the original scholarship value already paid and the decreased scholarship value. The institution shall return any overpaid amount to the higher education coordinating board.

(2) If the recipient drops or withdraws from class after the institution's tuition refund period has expired, the recipient may, but is not required to, reimburse the WAVE scholarship already paid for an academic term. The options regarding repayment of the WAVE scholarship include:

(a) Performing one academic term at a participating institution without the scholarship and receiving a qualifying GPA for the term in order to regain eligibility to use the WAVE scholarship.

(b) Repaying in full the scholarship amount received to restore eligibility for the term of usage. The institution shall return any reimbursed amount to the higher education coordinating board.