Depends how they do it this coming year.
For the class of 2009 they had two runnings of the scholarship, the first was at the beginning of 2005. They didn't select me as it was based upon the secondary application essay, and my essay was terrible. Honestly, I re-read it and I can't believe I was accepted. 😕
Regardless, they then had an increase in funding, partially due to the huge amount of money flowing in to the school from government and private funding, also as a number of second year recipients were unable to reapply (don't know the exact reason, but possibly due to standing within the college, ie grades). This opened up the scholarship pool again, and I was selected.
So yes, depending upon how they decide to run the scholarship, that is definitely a possibility. However, since you have an acceptance, your calls to the admissions office are hopefully much more relaxed, so feel free to ask about this. If I have the chance, I'll ask Kathy also and report.
Bottom line, if you like the school, but have financial difficulty...investigate and talk to them, they've been quite helpful in my matters, so I'd encourage you to at least talk to them about it. There are other loans and scholarships available, and our funding increases every year, great things are happening at the college, I can attest to this personally. We're up and coming and the students will only prosper because of it. So give it a try.