It is a legal and binding financial contract for 1 year and can only be terminated for mid year for disciplinary/ behavioral reasons. Scholarships are renewed anually. That means that if notified in an appropriate manner (30 days before renewal time in most cases), the award can be revoked(not renewed) for ANY reason and the institution is under no legal obligation to renew. In theory, you could have a guy run a 3:55 mile, 7:40 3k, etc. and still not renew him. There is a process for appealing a non-renew, and it generally goes 50% either way when it comes to the committee voting on whether to override the Athletic Department/Coach. For the most part, when you stand before an appeal committee(made up of non athletic department staff etc.) as a coach, you need the reasons why you chose to non-renew to be well documented, including that the expectations-either behavioral or athletic, were there from the beginning and that the student-athlete knew them and didn't comply. Many times these committee members are not as sympathetic to non-renewal for athletic performance reasons-seen as explotative. If the student-athlete has been a behavioral problem, and it is documented, many times the non-renewal will stand. Kind of long winded, but to summarize it is illegal to revoke a scholarship mid year for athletic performance reasons.