This study explores how school principals strategically manage student aid programs to sustain educational quality in an underfunded private secondary school in Indonesia. Rather than viewing scholarship management as routine administrative work, the study examines it as a strategic leadership practice connecting financial assistance, school governance, and educational quality improvement. Using an intensive qualitative case study at Darud Da’wah wal Irsyad Maros Private Senior High School, South Sulawesi, the research involved 12 purposively selected participants: the principal, a system operator, five teachers, two administrative staff, and three scholarship recipients. Data were collected through semi-structured interviews, field observations, and internal document analysis, then analyzed thematically using source and method triangulation. The findings reveal four key insights. First, the principal demonstrated strategic and participatory leadership by integrating aid management into institutional planning and stakeholder decision-making. Second, government programs, particularly the School Operational Assistance and Smart Indonesia Program, functioned as important equity mechanisms by reducing financial barriers, supporting student enrolment, and improving access for economically vulnerable students through transparent identification and distribution procedures. Third, implementation faced significant challenges, including budget limitations, administrative complexity, excessive teacher workloads, and inadequate infrastructure. Fourth, although no direct evidence linked scholarship management to immediate improvements in academic scores, effective aid governance was recognized as an indirect foundation of educational quality. It supported enrolment stability, operational financing, stakeholder collaboration, and a more supportive learning environment. The study contributes to educational leadership literature by positioning scholarship management as a strategic leadership instrument rather than merely a clerical function, emphasizing transparency, collaboration, and effective resource management in resource-constrained schools.