Replying to Retaking the ACT in college

Has anyone done this? I'm a freshman in college and i took the ACT my junior year in highschool, and got a decent score that got me a small scholarship at a state university. But i noticed that the scholarship amounts are completely based on my ACT score, and i know that you can take the ACT at any age, and i feel like i have a good chance at getting a higher score and i guess "reapplying" with my new score or something?? So while i'm waiting the next couple of days for a reply from a college rep, i'm just curious if anyone has any info on if this would work?