Hello, Lembusora!
Sorry for the public post...I am a newbie and just getting to know this tool!
I like the font combination you have used in #3 & #4, but the mark is ambiguous and seems to be an after-thought.
I prefer the colors in #3 and would probably like a dark orange to red.
The "student scholarship organization" notation would be preferable all lowercase.
Thanks for your efforts!
AbleSSO