In the more popular schools, the value of scholarships seems to keep falling in terms of fee reductions.
Lots seem to say there isn’t a pressure now to choose that subject at GCSE etc, but they will be keen that you play in the orchestra or the A team or whatever.
Essentially I see them as a marketing tool. They are there to make someone feel a bit special and choose that school over an alternative where they also have an offer. They often sell them as also offering a special scholars programme these days too - so it’s not about discounts but recognition and support perhaps at some further coaching or enrichment activity, but in reality these are often not that impressive and open to most who are interested regardless of scholarships.
Yes, Prep schools love them. They are the equivalent of having great grades at GCSE and lure new parents in. So Prep schools often encourage their pupils to go for them as they help their future marketing.
Great if you get offered one without too much effort. And don’t. Let it sway your choice of school. You’d be surprised how many turn down an offer at a more academic or higher ranking school because the lower ranked school which has less to offer, did give a scholarship. As they often make very little financial difference choose based on the school and your child not the scholarship.
Academic scholarships are usually just awarded based on entrance exams and you don’t have to prepare something special to apply. Nice to get the recognition, but again not worth switching schools choice for it, when really it’s a marketing tool to make that school seem more attractive.