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What are you doing now? $200/semester for scholarship seems pretty good to me.
You could give gift gards ($5-10) per week to the person who achieved the most As for the week in their classes. Or you could give a raffle ticket for each good grade. As = 3, Bs = 2, Cs = 1. Then at the end of the semester raffle off one awesome prize. Like a DVD player, tv, gaming system, etc.
We would give candy as prizes during the week and at the end of the year all your good grades would earn you scholarship bucks and we would have an auction. The auctioned items were either small things paid for by the budget or donated by chapter and alumnae members. Those auctions would get heated!
Plus, bragging rights holds a lot of power. You can buy a small trophy to be presented to a "member of the week". You'd only need one so it wouldn't cost much.
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