The correct answer is Option B.
AWARDED means to gift a prize. Scholarship is a prize money given as a recognition of academic excellence. This prize money can be used for further studies.
Scholarships are always AWARDED, not REWARDED though both the words almost share the same meaning.
The remaining options are incorrect because:
Option A: HONOUNRED means to give respect.
Opion C: REWARDED is not used with the word scholarship.
Option D: FORWARDED means to pass ahead.
Thus Option B is the correct answer.