A scholarship for people who failed

When I was in college, I saw many people getting scholarships for coming 1st/2nd in class or for achieving some merits. But nobody cared about people who failed or came last because of the reasons beyond their control. Those reasons could be an underprivileged background, family/society pressure which leads to poor mental health, hence poor outcomes. I believe such people also need support, a helping hand which helps them come out of the adverse situation. Currently they are in a bad situation but generally back benchers end up becoming toppers in life with proper support. Since college, I have thought of starting such a scholarship. Now i might actually do it. The amount could be 5-10k (depends on if others also join to contribute) and 1-1 discussions. What do you think the impact would be? Please don't say it might motivate people to fail, no it doesn't work that way. Ensure you have a logical argument, not emotional.