Steem is not a charity. We can rule out any chairtable good will from the vast majority of people using Steem. This goes for any cause, nevermind people receiving the benefit of a free university education. They are already well looked after by traditional beneficiary programs. By virtue of acceptance already have a decent ticket to success and a second rate charity cause at best.

Unless it can clearly be demonstrated how this will help Steem, it isn't even in Steem's interest. It will just be another account trying to get more Steem, the same as the rest.

Most accounts benefit Steem in one way or another. Onboarding people who earn scholarships has limited value for the blockchain since they are onboarded as feeders. Would the receiver be required to promote Steem? These promotions likely have little value, especially when you look into what Steem is.

Steem is highly speculative. Most growth has been wiped out and it could get worse. Students need money based on a very specific schedule. They cannot just hodl and hope.

Further rewards can be negatively impacted by upset individuals. The last thing Steem needs is more stuff you cannot downvote for moral and ethical reasons or more accounts that have to be protected from attackers.

Perhaps putting money in something safer like companies graduates work in or commodities would be more responsible.

Blockchains can be used for education. Steem can be used for blogging or posting finished assignments. It can reliably earn students something like beer money, but even that makes me a little squeamish. Not only do I need my beer, but I wonder the value of only onboarding students. Facebook quickly mved away from them. The youth don't have money.