From The Collaborative International Dictionary of English v.0.48:

Scholastic \Scho*las"tic\, a. [L. scholasticus, Gr. ?, fr. ? to
   have leisure, to give lectures, to keep a school, from ?
   leisure, a lecture, a school: cf. F. scholastique,
   scolastique. See School.]
   1. Pertaining to, or suiting, a scholar, a school, or
      schools; scholarlike; as, scholastic manners or pride;
      scholastic learning. --Sir K. Digby.
      [1913 Webster]

   2. Of or pertaining to the schoolmen and divines of the
      Middle Ages (see Schoolman); as, scholastic divinity or
      theology; scholastic philosophy. --Locke.
      [1913 Webster]

   3. Hence, characterized by excessive subtilty, or needlessly
      minute subdivisions; pedantic; formal.
      [1913 Webster]

From The Collaborative International Dictionary of English v.0.48:

Scholastic \Scho*las"tic\, n.
   1. One who adheres to the method or subtilties of the
      schools. --Milton.
      [1913 Webster]

   2. (R. C. Ch.) See the Note under Jesuit.
      [1913 Webster]

From WordNet (r) 2.0:

scholastic
     adj 1: of or relating to schools; "scholastic year"
     2: of or relating to the philosophical doctrine of
        scholasticism; "scholastic philosophy"
     n 1: a person who pays more attention to formal rules and book
          learning than they merit [syn: pedant, bookworm]
     2: a Scholastic philosopher or theologian

From Moby Thesaurus II by Grady Ward, 1.0:

141 Moby Thesaurus words for "scholastic":
   Cyrenaic, Eleatic, Epicurean, Megarian, Stoic, abstruse, academic,
   academician, animist, animistic, atomistic, bibliophagic,
   bluestocking, book-fed, book-learned, book-loving, book-minded,
   book-read, book-wise, bookish, bookman, booky, canonist, civilized,
   classicist, classroom, clerk, collegiate, colossus of knowledge,
   conversant, cosmotheistic, cross-disciplinary, cultivated,
   cultured, deep, devoted to studies, diligent, divine,
   divinity student, donnish, dryasdust, eclectic, educated,
   empirical, encyclopedic, erudite, eudaemonistic, existential,
   extramural, formal, genius, giant of learning, graduate,
   graduate-professional, hedonic, hedonist, hedonistic, humanist,
   humanistic, idealistic, inkhorn, instrumentalist,
   interdisciplinary, interscholastic, intramural, learned,
   learned clerk, learned man, lettered, literary, literary man,
   literate, litterateur, lover of learning, man of learning,
   man of letters, mandarin, mastermind, materialistic, mechanistic,
   metaphysical, mine of information, monistic, naturalistic,
   nominalist, owlish, panlogistical, pansophic, pantheistic,
   pedagogical, pedantic, philologist, philologue, philomath,
   philosophe, philosopher, polyhistor, polyhistoric, polymath,
   polymathic, positivist, positivistic, postgraduate, pragmatic,
   pragmatist, preschool, professional, professorial, profound,
   pundit, rabbinic, rationalistic, realist, realistic, savant,
   scholar, scholarly, school, schoolish, schoolman, sensationalistic,
   student, studious, syncretistic, theistic, theologian, theological,
   theologician, theologist, theologizer, theologue,
   transcendentalist, transcendentalistic, university, utilitarian,
   versed, vitalistic, voluntarist, voluntaristic,
   walking encyclopedia, wise