Quote: "I know for a fact that in Australia, the UTS has a $39k over 3 years scholarship for its Game Development course"
Holy damn! Wish I got that
Quote: "Scholarships are awarded by companies to pay you through university, at the promise you work for them X number of years afterwards. "
Not necessarily.
My Uni offers quite a number of scholarships through its own funding.
For example, the scholarship I received for Honours is fully funded by the University's Scholarship foundation. (There were 10x$5000).
Also, of the ones that do require some form of work or pay-back, some only require part-time work whilst still attending University (generally working out to be no more than an entry-level pay rate for the hours you work).
If you can, look for a scholarship that doesn't require any pay-back, or if you can't, find one that is a general scholarship (offered by the local council usually) open to everyone regardless of study subjects, and ensure that the pay-back is worth it.