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What is a merit award?

Merit-based financial aid (also called merit scholarships or merit awards) is financial aid offered in recognition of student achievements (e.g. academic, athletic, artistic, etc.). Unlike need-based financial aid, merit-based financial aid does not consider the financial need of the student or family.

What does merit-based mean?

In fact, data from U.S. News World Report showed that the average merit award to full-time undergraduates was $12,088 in the 2022-2023 academic year. As weve touched on above, a final benefit of merit-based aid is that it puts you in control.

What is an award of merit?

The Order of Merit, founded in 1902 by King Edward VII, is a special mark of honour conferred by the Sovereign on individuals of exceptional distinction in the arts, learning, sciences and other areas such as public service.

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