If you get the opportunity to compete you must show the administration that you are responsible and a positive representative of the school. Whether you are a club or a team, the school will give you more support if you strive to make it a quality program both on and off of the water. There are plenty good water ski programs, some with coaches and some without. Certainly the programs without coaches have a more difficult time being student lead. At this year's collegiate nationals, the top-seven teams had coaches.
Scholarships are varied between schools.
However, scholarships are not always the answer. Getting an education from a quality institution is the prime reason for entering college, so choose the school that best fits you academically. If the school has a water ski program, dive right in a try to make it a better program than before you arrived. If your top choice of a college doesn't have a program as of yet, take some time to plan your presentation to the proper authority. If you fail at first, go back again and again until your plans succeed.