scholarship

(noun): A grant-in-aid to a student.
(noun): The character or qualities of a scholar.
(noun): The activity, methods or attainments of a scholar.
(noun): The sum of knowledge accrued by scholars; the realm of refined learning.
(noun): The first year of high school, often accompanied by exams that needed to be passed before advancement to the higher grades.
(verb): To attend an institution on a scholarship.
(verb): To grant a scholarship to.