GT Scholarship for Undergrads - Questions

Son got accepted into GT. we are OOS. He has been accepted by several other schools and all offered some good merit based scholarship (ranging from $6,500 (from instate university) to $28K (from private university) a year. It was clearly stated in the offer letter that all those scholarships are automatically renewed for four years as long as GPA stay at or above certain value (ranging from 2.5 to 3.0)

Just received the financial aid (FA) package from GT which included $7,000 GT Scholarship for Undergrads (or Institutional Scholarships and many kinds of education loans, total up to $47,634 for the year 2016-2017. We don’t have much interest for the education loans except for the $7K scholarship.

In order for us to make the go-or-not-go decision, we need some help for the following questions:

  1. Is the GT scholarship merit or need based?
  2. If it is merit based, should it be automatically renewed for the next three years as long as my son maintains his GPA (accumulative as well as per semester) above 3.0?
  3. If it is not automatically renewed, what is the chance to get it for the next three years?

Thanks for the help in advance.