A scholarship represents a paid seat in a class. When someone is granted a scholarship, two things happen:
1. A slot is reserved for that student, potentially barring others from registering
2. Money comes out of the chapter's scholarship fund to pay the instructor, organizer, and venue (if applicable)
NOTE: If you accept a scholarship and do not attend all sessions of a class, the seat and the funds effectively go to waste. Barring extenuating circumstances, you will then be ineligible for future scholarships, and will be asked to pay the class fee to reimburse the scholarship fund.