If you mean a scholarship for art (which I will assume here), I know they do place some weight on grades. I would guess it wouldn't be any higher than 25% though. One art school told me that for the average person, 50% is placed on their portfolio, and 50% on their: grades, standardized test scores, and whether they were involved in anything noteworthy in High School, etc... But if you have a very outstanding portfolio, that might override some of that, and outstanding grades might carry a little more weight.
3.92 is very good- at my school (which is a 21,000 a year tuition), it might get you close to 5k, but really I'm only guessing here.
Well, when you say "academic" do you mean for "non art" studies? In that case, I think they do put more weight on your gpa (I don't know any percentages). But it seems they put equal (and sometimes even greater) money towards scores on standardized tests like the ACT and SAT.
A lot of scholarships, especially those from third parties, are limited to US citizens, so you are going to have a harder time of it. However, policys on financial aid vary spectacularly between schools, so it's hard to make broad statements.