Some great things that our VPScholarship always did...
-kept a binder in the library so that we could record our study hours
-gave us a cookie for A's
-all the study hours and A's were assigned points.  At the end of the quarter you received Study Bucks. More points = more $.
We then had an auction.  We'd bid on all sorts of things that the VPS had bought over the semester.  Items varied from a pin pillow, to stationary, to a giant teddy bear!
The VPS would also have special awards for most improved GPA, highest GPA, family or big/lil sis combo w/ highest GPA, etc.
I loved the auctions.  Girls with a lot of $ would always start the bidding high.  So then the other girls would pool their $ so that they could compete.  

  Lots of fun!