By default, all licenses are set to expire on the 30th June and 31st December for institutes based in the Northern hemisphere and Southern hemisphere respectively. The year of expiration is relative to the when you submitted the application. For example, if you are based in the Southern hemisphere and you applied for a license in January 2018 or November 2018, in both cases your license will expire 31st Dec 2018. When your license has expired, you can simply reapply again as long as you are still enrolled as a student.
Hope this helps!
CostX Forum Admin