Thank you for this interesting question.
You are right to say that 'are considered' should be used in the sentence. In sentences with a “before clause” i.e. “before they will be considered for University scholarships”, the part of the sentence that begins with “before” is expressed in the present tense.
Compare it with “I’ll finish my homework before I go out”. The sentence structure is also similar to that used in “if” sentences; e.g. “If it rains, I’ll stay at home”.
Good luck and best wishes,