You can keep renewing it ad finitum without logging hours, but it would seem to be a waste of money.
Once you have your Class 1, you can let it lapse then renew it with any AME providing no longer than 5 years has passed since the last examination.
Anything more than 5 years and you need an extended Class 1 renewal at Gatwick.
Anthing more than 10 years and you need a full Class 1 initial again.
So renew it, go to Uni, then make sure you renew it again with your AME before 5 years has passed.
HTH
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