I am verying interesting in learning how other organizations are handing Scholarships. We have ours set up as editable price types.
When we interface to the G/L we group the price up to the full base price for to credit the class and place the scholarship amount into an offset account where we can track the amount.
Our problem is when a Constituent has both a Scholarship and a Discount. First we must apply the discount and then the Scholarship. I can not sell a class with two price types and if I go with Payment methods I will have hundreds of scholarship method of payments depending on the class that is being sold.
Do you have different GLs for each type of scholarship? Or each class' scholarship? Is that why you'd need so many scholarship payment methods?
If the scholarships are all coming from the same account and the concern is just keeping track of how much scholarshipping happened for each class (I am assuming each class is a perf?) you could use Performance Transaction Detail to report on that. Then you'd just sell the person the class with the discount price type, and pay part of it with the scholarship payment method.