A scholarship is an award of access to an institution or a financial aid award for an individual (a "scholar") for the purposes of furthering their education. A scholarship may be awarded based on range of criteria, which usually reflect the views or purposes of the donor or founder of the award.
Another meaning of “scholarship“ is the pursuit of a research subject, usually in arts or humanities (as opposed to science). In both scholarly and scientific fields, the word “scholarship“ is used to mean deep mastery of a research subject, often achieved through university studies.