League of Legends could be your ticket to higher education. Riot Games has announced that the The League of Legends North American Collegiate Championship (NACC) is back for the 2014-2015 season, with a total of $360,000 in scholarship money up for grabs.

Last year, 540 teams from more than 300 universities across the United States and Canada battled it out in the NACC, but this year's event is going bigger. This season, the event will span the entire academic year, and North America will be divided into four regions: North, South, East, and West.

Registration for the 2014-2015 NACC is now open, and qualifying rounds will begin in October. The series concludes in March 2015 when the top four teams will compete in Los Angeles for scholarship prizes. Below is a breakdown of the scholarship payouts for top teams.

• 1st place team: each player walks away with $30,000 in scholarship money
• 2nd place team: each player earns a $15,000 scholarship
• 3rd place team: each player earns a $7,500 scholarship
• 4th place team: each player earns a $7,500 scholarship

More details about the 2014-2015 NACC are available through this handy FAQ at the event's website.

Eddie Makuch is a news editor at GameSpot, and you can follow him on Twitter @EddieMakuch

For all of GameSpot's news coverage, check out our hub. Got a news tip or want to contact us directly? Email news@gamespot.com