![]() 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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