Yes, after creating an application and associating with the scholarship, you can either send an application invitation to the users or provide a grant link to the users.
Application Invitation: The scholarship can be un-published, and you can invite the users. However, you can only invite the users who already have an account in the system, and if there is no user account created, you can provide the grant link to the users.
To know more about the Application Invitation feature, please click here.
Grant Link: The scholarship can be un-published; ensure the "Show Fund On Fund Details" is enabled.
To know more about Grant Link, please click here.