scholarship vs economic aid

scholarship and economic aid both are nouns.

Word	Noun	Adjective	Verb	Adverb
scholarship	Yes	No	No	No
economic aid	Yes	No	No	No

As nouns, economic aid is a hypernym of scholarship; that is, economic aid is a word with a broader meaning than scholarship:

scholarship: financial aid provided to a student on the basis of academic merit
economic aid: gift of money or other material help to support a person or cause

Other hypernyms of scholarship include aid, assistance, economic assistance, financial aid, financial assistance, award, prize.

scholarship (noun)	economic aid (noun)
profound scholarly knowledge	gift of money or other material help to support a person or cause
financial aid provided to a student on the basis of academic merit