Scholarship means two different but related things:

1. Money given to a student to help pay for their education. When someone wins a scholarship, they receive funds for tuition, books, or other school expenses based on their achievements, talents, or financial need. A student might earn a scholarship for excellent grades, skill in basketball, or impressive writing ability. Universities, organizations, and foundations award thousands of scholarships each year, making college possible for students who otherwise couldn't afford it.
2. Serious academic study and research, or the work produced by scholars. When historians engage in scholarship, they carefully study old documents, analyze evidence, and share discoveries about the past. A professor's scholarship might include books, articles, and research that advance human knowledge. The word captures both the process of rigorous study and its results: you might read a work of impressive scholarship about ancient Egypt or music history.