You are not a citizen until you are sworn in. If you are denied because of failure to pass the English or the civics test, you will be automatically rescheduled within 90 days. If you are not approved for some other reason, you may be given time to overcome the problem.
For 2009, the American Opportunity Credit--which is a variation of the Hope Credit--will be allowed for 4 years. For years before and after the new credit is allowed, the Hope credit is supposed to be for 2 years.
If you have earned a HOPE cumulative grade point average of at least a 3.0 at the end of the term you attempted 60 semester or 90 quarter hours, you may renew your scholarship for 61 through 90 semester hours or 91 through 135 quarter hours attempted.