The Arkansas Department of Higher Education awards Academic Challenge Scholarships to Arkansas students who enroll in an approved Arkansas college or university. If you are selected for this scholarship, you will receive: $2,500 during your freshman year, $2,750 during your sophomore year, $3,000 during your junior year and $3,500 during your senior year. The scholarship may be awarded for a total of four academic years of undergraduate study, provided you maintain at least a 2.75 cumulative GPA and complete 12 semester hours or the equivalent for the first semester and 15 semester hours or the equivalent every semester after that. Deadlines to apply for this scholarhip are October 1 and June 1.