In Portuguese I would say “concurso” and not “competição” which has the same meaning as competition in English. In English it seems off to say competition because a competition is more direct, like a sports competition.
Answer
Scholarship competition or scholarship contest are used a lot. You’re right, competition does sound more intense, like a sports event, but the basic idea is still right. The students are competing to see who wins the scholarship.
Attribution
Source : Link , Question Author : Pedro , Answer Author : Bobo