Debates on the nuanced humanistic and diplomatic motives of international scholarship schemes are gaining traction. Diplomatically, these scholarships serve as instruments of “soft power,” enabling host states to influence foreign public opinion. Humanistically, they reflect the host country’s commitment to “aid through higher education” to address global disparities. This study examines the role of higher education in this context, focusing on the impact of the International Cooperation and Development Fund (ICDF) scholarship on alumni’s career trajectories, institution transfers, network formation, social engagement, and Taiwan’s global visibility. Utilising an opinion-leader model, this retrospective research collected data from interviews with Latin American alumni in emerging leadership roles within governments or educational institutions and with faculty and executives from a prestigious university. The findings underscore the adoption of Taiwan-inspired practices by alumni in leadership positions as evidence of diplomatic influence. Graduates’ employability is linked to diplomatic ties, with their applied knowledge addressing social issues in their home countries. The study concludes that scholarships extend beyond mere soft power, serving as vehicles for knowledge diplomacy and fostering humanistic outcomes. This perspective transcends a simplistic binary view, offering a comprehensive understanding of international scholarship programmes and highlighting the intricate interplay between humanistic and diplomatic contributions.