A number of students with joints? The types you can get for free in support of being academically bright!
I believe the answer is:
scholarships
'types you can get for free in support of being academically bright' is the definition.
I can't tell whether this definition defines the answer.
'a number of students with joints?' is the wordplay.
'a number of students' becomes 'scholars' (I can't explain this - if you can you should believe this answer much more).
'with' means one lot of letters go next to another.
'joints?' becomes 'hips' (hip is a kind of joint).
'scholars'+'hips'='SCHOLARSHIPS'
'the' acts as a link.
Can you help me to learn more?
(Another definition for scholarships that I've seen is " Student awards".)