It’s a flex. In a society that fools itself into thinking it is a meritocracy, people who buy privilege still think that means they are intrinsically worthy and amazing. Scholarship is thought to portray that the individual is so intelligent (or good at sports) that the university is ready to give up thousands in income to have that candidate.
Scholarships are not meant for the filthy peasants who need them, that would be like giving feebies to the undeserving freeloaders. Instead it should be given to those gifted and capable individuals who could afford an expensive private education.
