A recipient may hold a scholarship for a fifth undergraduate year or for a semester subsequent to the end of a fourth undergraduate academic year if the recipient submits a request and: Is a full-time student; Continues to be a resident of the State; Continues to be a student at the institution and takes courses leading to a degree; and Has received the award for the maximum time frame available as provided in Regulation .09C. A Senatorial Scholarship awarded under this section may be held for up to 1 year. The Senator shall notify the Office of Student Financial Assistance (OSFA) of any fifth year request that has been approved. The Director of OSFA or designee shall verify the availability of the appropriation for each Senator and shall award the student should funding be available. OSFA shall notify the student of the award offer.