The long answer to that question is probably a few pages long. The tl:dr version is there is a difference between academic and athletic scholarship. Just look at who offers the different scholarships. A coach for athletic, an admissions board for academic. Different rules govern each, made under different circumstances.
Schools govern their own academic scholarship requirements. The NCAA stipulates athletic regulations.
There's no arguing colleges are greedy. Presidents, administrators, coaches, sponsors, donors etc....all with their hand in the cookie jar of college sports making money. But how is that different from any other business?
McDonalds CEO last year made 22.8 million dollars... now how many employees work for minimum wage and long hours? Phil Knight of Nike pulled in close to 15 million dollars just sitting on his a$$ last year as the Chairman for Nike.... how many sneakers were made in foreign countries for less than $1 of labor?
Not saying what the NCAA or colleges are doing is right, but merely it's how business in the world operates. Tell the kid in McDonalds working for $8 an hour (while Don Thompson counts his millions) that a college football player was given a $40,000 a year education and doesn't consider that enough... see their reaction to that.