Short answer: Yes.
Long answer: Yes, but...
As long as the scholarships are privately funded, there is nothing anyone can do about it. People who fund scholarships have as much right to decide who their money goes to as I have a right to decide which video game I buy. However, I do vehemently disagree with publicly funded "minority" scholarships. Why should I, a lower-middle-class white male, be denied the opportunity of applying for a much-needed scholarship when the guy sitting next to me, in the same situation, should not be denied?
I grew up in the lower middle class. Around the time I entered high school, my parents told me that, if I did not get a merit based scholarship, I would not be going to college. My parents made too much money to qualify for need-based scholarships, and we couldn't afford to send me without additional help. Thankfully, I did well enough in school to get a merit scholarship, but that's not the point.
Personally, I think that minority-based scholarships, even need-based scholarships, are a symptom of a much deeper problem. The fact that college is so expensive that it's virtually impossible to attend without some kind of need based scholarship (be it minority based or not) speaks volumes about our society. We have set up a situation where it is acceptable to be mediocre - a situation that encourages the kind of thinking that says "I'll just do the least amount of work to get by, and it will all work out". This line of thinking will make it impossible for society to improve, and future generations will be stuck with the same problems the current one has. There will be no improvement, only perpetuation.
So I propose this solution: do away with need based scholarships entirely. Instead, make college entrance exams and standards for admission so difficult that only the smartest can pass them. This will dramatically reduce the acceptance rate at all universities. However, it will dramatically increase the amount of money available as scholarships per student - hopefully enough that people won't have to pay at all. This will meant that, if you are worthy to attend college, you will be able to, regardless of race, class, sex, religion, or any other factor.
I realize that this solution is not perfect - although the percentage of people who attend college on scholarship will increase, the amount of people who cannot attend college at all will decrease. I ask you, is this a bad thing? Sure, there will be fewer people with a college education, but there will be more people who opt to attend vocational schools or take on apprenticeships. There will be the same number of "skilled" workers, but fewer who have a university degree. This means that having a degree will actually mean something - that the holder of that degree is one of the smartest, best trained people in the world. And people who don't have a degree will not be "left behind" as critics will argue, but, because the majority of the people will not have a degree, they will be just as able to find a job in their specialized field as anyone else.