There is virtually no way to implement this within the framework of our administration. Because of our policies of stratification and taxation of churches, and what it takes to legally oversea what amounts to a non-profit charity, the formal Church of Satan
really would do better to not oversee such a scholarship.
HOWEVER: There is no earthly reason why enterprising Satanist cannot create such a scholarship on their own and establish their own criteria, based on what they wish to promote. They can develop the fund raising, the escrow, etc....
Bonnie, you are right, there are scholarships for everyone from everybody, but you must pragmatically know that a CoS scholarship would be scrutinized in a way no other charitable gift would. Ask me about Little League and I'll teach you a lesson on how no good deed goes unpunished---particularly if you're a Satanist.
If it matters to you, Bonnie, do it for you!
I really hope you know I am not shitting on what I truly believe to be a great intention, but I do have quite a bit of experience in this sort of thing. More than that, our High Priest and Priestess care deeply about this organization, and there is no idea they haven't heard---if this could have been done well, without diluting Satanism or the church, they would have done it.
Do not hesitate to entertain and share more ideas!