The WAVE recipient:

(1) May use the scholarship for nonconsecutive academic terms of study.

(2) May attend school full time or less than full time and receive the scholarship.

(3) Uses one term of WAVE eligibility for each academic term the scholarship is received, without regard to enrollment status (i.e., full time or less than full time) or the dollar value of the scholarship paid for the academic term. Exceptions may apply.

(4) May transfer from one participating in-state school to another and continue to receive the scholarship as long as all other eligibility requirements are met.

(5) May use and receive the scholarship for study at only one institution at a time in any given academic term. An exception may be authorized by the higher education coordinating board; however, scholarship value and usage restrictions may apply.

(6) May receive the scholarship at a participating institution for study abroad in some circumstances. For this exception to apply, the recipient must be enrolled (i.e., have concurrent or dual enrollment) at the in-state participating institution (also known as the "school of record") in an institution-approved (or institution-affiliated) program of study abroad. The grade point average, or grade point equivalent, for the academic term(s) of study abroad must transfer to the in-state school of record so that the recipient's ongoing eligibility for the WAVE scholarship may be determined.

(7) May receive the scholarship at a participating institution for undergraduate level coursework while attending an out-of-state campus location of the same school in some circumstances. For this exception to apply, the recipient must be enrolled (i.e., have concurrent or dual enrollment) at the in-state participating institution (also known as the "parent institution"). The grade point average, or grade point equivalent, must transfer to the parent institution in-state so that the recipient's ongoing eligibility for the WAVE scholarship may be determined.