In any two year period Honors offers 35-40 seminars, some of which may be offered again sometime, some of which may not. Seminars are small, discussion oriented, and off the beaten track. Of the roughly 45 freshmen admitted to Honors every year, perhaps one or two lose their scholarships. Except, this is an intellectual activity. Seminars meet one night a week for an hour and forty minutes.
Honors is voluntary, and so of course anyone can leave at any time.
Just about no one does. We do have on campus applicants, and every year between 5 and 10 are admitted.