This is normal.
Its been done for, literally, ages.
All universities have had scholarship students, certainly going back to medieval times. Or earlier.
I know for sure all Catholic schools from parochial K-5 on up do this.
The only problem I see here is whether these scholarships/financial aid/what have you are awarded to the poor but deserving, or are used for political purposes.
You don't see any problem, at a publicly-funded university, with taking a quarter of the money paid by one group of folks and handing it over to others?
This isn't a matter of scholarships, it is a matter of who is paying for those scholarships.
Nobody is saying that folks can't give to a scholarship fund of their own free will.