Merit-based scholarships are a form of college financial aid that is awarded based on academic and/or extracurricular achievements rather than financial need. Here are some key points to know about merit-based scholarships:
- Merit-based scholarships are not restricted by a students financial situation.
- Scholarships are the most common type of merit-based aid.
- Merit scholarships reward academic talent, so students who excel in academics, athletics, or the arts may be eligible.
- Scholarship committees usually examine students' grades, standardized test scores, and participation in extracurricular activities when awarding merit-based aid.
- Students may need to maintain a certain GPA throughout college to continue receiving these funds.
- Merit scholarships can be awarded by nonprofit organizations, private businesses, colleges, and universities.
- Merit scholarships can be divided into two categories: those awarded by colleges and universities and those offered by public and private organizations.
- Some merit scholarships are one-time prizes, while others are renewable throughout a student's college career.
- Merit scholarships can be a common recruitment technique at colleges and universities.
- Certain professional and educational organizations also offer merit-based scholarships to qualified students.
Overall, merit-based scholarships are a strong option for families of all income levels, and students who excel in academics, athletics, or the arts may be eligible for these scholarships.
