Yes, SCHOLARS is a Scrabble word!

Letter values in Scrabble US: S 1, C 3, H 4, O 1, L 1, A 1, R 1, S 1.

Is it a valid word?

SCHOLARS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a learned person (especially in the humanities); someone who by long study has gained mastery in one or more disciplines
someone (especially a child) who learns (as from a teacher) or takes up knowledge or beliefs
a student who holds a scholarship

Also: scholarly person.