Yes, SCHOLIA is a Scrabble word!

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

Is it a valid word?

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

a marginal note written by a scholiast (a commentator on ancient or classical literature)
a marginal note written by a scholiast (a commentator on ancient or classical literature)