Terms and Conditions for the
Red & Blue Scholarship
Ole Miss is pleased to offer the Red & Blue Scholarship to students with financial need in order to support them in their academic pursuits at our institution. You are being offered funds under this scholarship program following an eligibility review by Financial Aid.
In Year One
Red & Blue is intended to help you meet a set percentage of your need as a freshman. This percentage allows us to calculate a “cap” for the total amount of scholarships and grants you can receive as part of this program.
- The awarding formula is based on: our standard Fall/Spring Cost of Attendance, the results of your Free Application for Federal Student Aid (FAFSA), your academic credentials (HS GPA and ACT/SAT scores), and the availability of institutional funding.
- Once we determine your individual cap, we will subtract all federal, state, institutional, and private scholarships and grants already awarded to you. Any gap is then filled by the Red & Blue Scholarship to ensure that you have enough gift aid to reach that set percentage.
- This award is the “last dollar” in the formula. This means that throughout the Fall/Spring academic year, the Red & Blue Scholarship WILL BE ADJUSTED if other scholarships or grants are awarded to you, or if your FAFSA changes. (Please know that you may still choose to pursue student loans or Federal Work-Study, if interested, to pay for your remaining college expenses.)
In Subsequent Years
If you otherwise maintain eligibility for renewal, you may receive funds up to your remaining need, but no more than the amount of your Red & Blue Scholarship in Year One.
In addition, the following requirements apply:
- You must be a new first-time/full-time undergraduate to receive this award.
- By the awarding formula, you must be eligible for at least $500 per year to receive any Red & Blue funds. That is the minimum annual amount.
- International students and student-athletes do not qualify for this award. Students who transfer to the University Medical Center are also not eligible.
- Full-time enrollment of at least 12 hours each semester is required.
- Independent Study classes (also known as correspondence courses or iStudy) can only be used to count towards the full-time enrollment requirement if they are semester-based – not Flex courses. In addition, the scholarship amount may be reduced if students are enrolled in iStudy classes ONLY that term
- Maximum eligibility is limited to eight consecutive regular semesters (Fall and Spring only). This scholarship will not pay for winter intersession, summer sessions, or any mini-terms.
- Eligibility ceases once a bachelor’s degree is conferred.
- Eligibility for future years is conditional upon you maintaining at least a 2.0 cumulative grade point average on a 4.0 scale on all course work attempted at The University of Mississippi only (not transfer grades). Students must also maintain eligibility to receive Federal Title IV Financial Aid by meeting Satisfactory Academic Progress rules. In addition to maintaining a 2.0 GPA, students must pass 67% of all attempted hours and cannot have attempted more than 180 hours.
- Renewal eligibility for subsequent years will be determined at the end of each Spring semester. Warning notices may be issued if your GPA goes below the 2.0 mark at the end of the Fall Semester.
- Renewal eligibility is conditional upon the renewal of the FAFSA by March 1st and continued demonstration of financial need is required. The FAFSA must be complete by March 15th.
- If you withdraw from the University within the 100% institutional refund period (the first 10 days of classes), any scholarship that has already credited to your bursar account must be repaid in full.
- If you withdraw from the University and attend another college, you will forfeit your scholarship unless prior arrangements have been made with the University of Mississippi, Office of Financial Aid.