17 Things to Know About Merit Aid Scholarships
Merit aid helps lower college costs.
When it comes to paying for college, merit aid is one way to close the gap between the cost of attendance and need-based financial aid. Merit aid is a form of college financial aid that does not consider a student's financial need, but rather is awarded based on academic, athletic, artistic or special-interest merit. The average merit award to full-time undergraduates among the 1,023 ranked colleges that provided this information to U.S. News in an annual survey was $11,287 in the 2019-2020 academic year. Merit aid might cover a student's entire tuition or be a one-time award of a few hundred dollars. Here are 17 things to know about merit scholarships.