This is the 4225th most frequent German word.
bewerben
"Bewerben" means "to apply" (e.g., for a job or position).
In this sentence, 'bewerben' is used reflexively ('mich bewerben') to mean applying for something such as a job or opportunity.
Ich möchte mich um die Stelle bewerben.
I would like to apply for the position.
Here, 'bewerben' is again used reflexively ('sich bewerben') to indicate seeking to obtain something, in this case, a scholarship.
Sie bewirbt sich gerade für ein Stipendium.
She is currently applying for a scholarship.
In this usage, 'bewerben' means to promote or advertise something, demonstrating a less common but valid usage.