Source : Webster's Revised Unabridged Dictionary (1913)

Scholarship \Schol"ar*ship\, n.
   1. The character and qualities of a scholar; attainments in
      science or literature; erudition; learning.

            A man of my master's . . . great scholarship.
                                                  --Pope.

   2. Literary education. [R.]

            Any other house of scholarship.       --Milton.

   3. Maintenance for a scholar; a foundation for the support of
      a student. --T. Warton.

   Syn: Learning; erudition; knowledge.

Source : WordNet®

scholarship
     n 1: financial aid provided to a student on the basis of academic
          merit
     2: profound scholarly knowledge [syn: {eruditeness}, {erudition},
         {learnedness}, {learning}, {encyclopedism}, {encyclopaedism}]