Not very, I don’t think.
I had my initial interview (though not the one for aid) and I didn’t get the impression that they’d ask for a transcript. In fact, it hadn’t even occurred to me.
I’m just usually wary of applying to scholarships (within Europe) since generally recipients of scholarships tend to have unusually high academic achievements with no space to mellow out in their lifes. Free time to explore the mind was and is more important to me than abnormal academic achievement so there’s that.