Hmm...well for starters - there are already plenty of scholarships available to *whites*(children of veteran's, low income grants/loans, etc).
Still - I don't see any problem with offerring a scholarship exclusively to *whites* - however, being that they still represent the majority in this country(United States), and how gross income disparity between *whites* and other minorities is still very prevalent(*white* groups generally being at the top rung of this disparity) - I think creating such a scholarship - will have a rather moot impact on society.
It would kind of like when Oprah Winfrey has those shows - where she gives away money and/or prizes to the white suburbanites in the audience.(I mean come on - do they really need more money?)
So anyway - I'm really not against it, I just feel that such funds should be dispersed to *whites* that come from underprivileged economic backgrounds(which is a relatively small percentage when compared to other minorities - within the US at least).