This award is given to students who demonstrate exceptional potential in the fields of academics, sports, art, and community participation. Many prestigious universities offer merit scholarships to attract the brightest students. Merit Aid Scholarships are Available from Two Principal Sources: Merit scholarships are typically given for academic achievement, but they can also be given for exceptional talent in music, art, or athletics. While each school's requirements are different, it's common to find that Merit aid is most likely to be awarded to students who rank in the top 25% of a college's most recently admitted freshman class. Students receive merit assistance based on their academic performance.

There are, however, a lot more colleges to choose from that offer some kind of merit aid. Some of the world's most prestigious schools don't provide merit aid at all, instead of relying solely on need-based financial assistance. Merit aid typically doesn't require a separate application, and any award amounts will be included in your acceptance letter. Merit-based grants and scholarships, unlike loans, do not require repayment and are, in most cases, renewable each year if you continue to meet certain academic requirements. These students strengthen the school's applicant statistics and rankings. Because the student does not have to repay the money, merit scholarships are one of the better ways to get financial assistance.Ĭolleges use merit-based aid and scholarships to attract the best students. As a result, even though they can't afford college, students with a higher income level are ineligible. However, many scholarships are based on the needs, meaning that they are awarded to students based on their financial needs. Fortunately, there are several scholarships available to assist with the high cost of college tuition. There's no doubt that college is costly and can put a strain on a family's finances. Important Things To Know About Merit Aid Scholarships

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