Grant for student beginning to rake in counterfeit Polish cash (11)
I believe the answer is:
scholarship
'grant for student' is the definition.
'beginning to rake in counterfeit polish cash' is the wordplay.
'beginning to' says to take the initial letters.
'in' means one lot of letters goes inside another.
'counterfeit' is an anagram indicator.
The initial letter of 'rake' is 'r'.
'polish'+'cash'='polishcash'
'polishcash' anagrammed gives 'scholaship'.
'r' put inside 'scholaship' is 'SCHOLARSHIP'.
(Other definitions for scholarship that I've seen before include "Award for further study" , "Work of 6 [ACADEMIA]" , "Educational grant" , "(Award for) academic skill" , "Grant for good student" .)