Academic is used to describe work, in either a school, a college, or an university, in which it places emphasis on studying and reasoning rather than on practical or technical skills.
Admission is the process through which students enter establishments regarding educational purposes, whereby the systems vary widely from country to country, and sometimes from institution to institution.
A scholarship is an award of financial aid for a student to further their education. Scholarships are awarded based upon various criteria which reflect values and characteristics.