What is the average merit award?

The average annual award is around $5,000. There are plenty of misconceptions about merit-based aid. The fact is that merit-based scholarships are about rewarding students for a job well done regardless of their financial situation.

How much is a good merit scholarship?

There are three types of awards: National Merit Scholarships of $2,500, corporate-sponsored scholarships and college-sponsored merit scholarships. To qualify, students must take the PSAT and be enrolled as a high school student. There are some full rides for National Merit Scholars.

What is a merit grant?

Merit based grants are monetary awards given in recognition of exceptional academic achievement. Where need based grants are awarded on the basis of income disparity, merit based grants require students to demonstrate high levels of academic achievement, commitment to service and leadership qualities.

What is a merit scholarship based on?

Merit scholarships are typically awarded on the basis of academic, athletic or artistic merit, in addition to special interests. Some merit scholarships also consider financial need, but rewarding talent is the primary objective.

How is merit aid determined?

The amount of merit scholarship money that students receive may seem random, but colleges and universities work to give students as much aid as they can based on their qualifications, interests, and overall fit for the particular school.