Yeah; every year. It does involve housing, meal plan, books, gym etc.
Basically, i get a base scholarship for each year for four years. (This is how most Universities here do it)
Say, 15,000. Then I'd apply for federal aid, via FAFSA. This way i get grants and loans (usually subsidized) provided by the school/gov't based on my parents income. Since my parents aren't very well off, I get a good amount of grants to go with my scholarship, which is why i'm at an expensive school, but it is private. Most public universities cost anywhere from 5,000-20,000 a year.