It depends on what type of aid they were awarded. If it was federal aid (Pell Grant, federal loans, etc.), that money is portable (except for a couple of campus-based federal programs) and will go with the student. If the student received an institutional scholarship, probably not.
Today's Beacon Journal had an article about an area freshman engineering student who had a $22,000 scholarship for Tulane. He was down there for one day when he was told he could either get on a bus and go to Miss. St. or head back home. He figured it would be a 3-day evacuation so just took the minimum gear and went to MSU. Now he is back home and enrolled as a transient student locally. Since he is just a freshman, there are plenty of general education classes he can take that should transfer in to his program.
The president of Hiram College says they will take displaced students until the dorms are full and he is > My impression is that it's not anything like that.