The annual cycling festival joins Life Time's expanding portfolio of endurance sporting events.
The scholarships will cover the $500 tuition fee of the three-day instructor seminar for 40 people.
The Sea Otter Classic has canceled its October 1-4 event and is instead planning a virtual experience that includes product launches and cycling challenges.
The 2020 Sea Otter Classic has been postponed due to coronavirus. The event has yet to announce a new date.