Merit scholarships are a type of gift aid that help pay for college by rewarding talent. Most merit based scholarships go to students who stand out with strong academics.
Recipients of a merit scholarship may be high academic achievers or have strong athletic, artistic or other skills and values. Eligible students must also show a desire to serve the community or leadership skills.
Some merit scholarships also may look at financial need. But most of the time accomplishments and academic excellence are the primary factors to win a merit scholarship.
How Do You Get a Merit Scholarship?
Merit awards are different from needs based scholarships. A need-based scholarship uses family income to make decisions. Instead, the merit scholarship sponsors usually start out with a goal or reason why they offer it. This might be to develop their industry with smart minds or invest in the future of their community and college.
There are various criteria to qualify for a merit scholarship. Sometimes you need to be a member of a specific association or enrolled in the university. Other scholarship providers may specifically offer it to minority students, female students or for certain majors like STEM.
Either way, you’ll need to see if you qualify. One example is the Women Techmakers Scholarship. It is an academic merit scholarship. In order to be eligible, eligible students must show strong academic performance, leadership, and impact on the community of women in tech. You may fit the bill as an upstanding male student, but this one is for girls.
What is Merit?
That stated, what ‘merit’ means generally depends on the organization granting the scholarship. Some merit scholarships look at academic performance, test scores, and your recommendations. Others may only look at your SAT/ACT test scores.
Still others focus on your dedication to and performance in a specific field of study. This can be anything from music to math and others.
Many private companies, groups and nonprofits fund merit scholarships. There are no federal funds for merit-based scholarships.
Some merit scholarship providers are from local communities such as churches and cultural groups. Companies such as Google, Gates Foundation or Coca Cola also offer merit scholarships.
Most colleges also award merit scholarships. Often alumni endow funds to use for these awards. Merit based awards may thus carry the name of a person so that their legacy continues. You’ll also find charitable foundations offering merit aid which sometimes look at financial need.
What GPA do You Need to Get a Merit Scholarship?
An academic merit scholarship often requires a strong GPA. But the actual grade point average you need to get a merit scholarship varies.
For instance, you need a cumulative GPA of 3.5 on a 4.0 scale to qualify for the SHRM Foundation’s Graduate Scholarships. This awards $5,000 to a graduate student pursuing an HR degree related program.
The Voice of Democracy Scholarship awards $30,000 to one national first place winner. Most high school students as well as military students may apply.
How Much is a Merit Scholarship?
The U.S. Department of Education tracks the aid schools award to undergraduates. According to the NCES study, they looked at the amount of money high-merit students received. It found that those in selective schools got about 58% of their tuition. Those in less selective schools received about 46% of their tuition amounts.
What Qualifies You to be a National Merit Scholar?
National Merit Scholars have the highest PSAT/NMSQT® Selection Index scores. About 1.6 million enter to compete. But about 50,000 qualify for recognition in the National Merit® Scholarship Program.
Each September, the sponsor colleges notify the recipients. They let them know if they have qualified as either a Commended Student or Semifinalist. Then about 15,000 semifinalists move to finalist standing.
About 7,600 winners of Merit Scholarship® awards (Merit Scholar® designees) may be notified. Part of the decision making process looks at students’ abilities, skills, and accomplishments.
How Do You Get the Most Money for Merit Scholarships?
Many scholarship providers factor in both need and merit. There are at least six things that may help you get the most merit aid for college.
Don’t forget to fill out the FAFSA. Depending on your circumstances, you may be eligible for federal aid too. This might be useful if the amount of your merit scholarship is not enough to pay tuition, fees, housing etc.
Apply to schools where your grades put you ahead. Many college admissions look at the entire pool of applicants. You may be ahead of the student body in some colleges and not in others.
Check whether the merit scholarship is renewable. If so, abiding by the terms may help pay your entire four years at college.
Make sure you understand the net cost of attending each school you apply to. Then assess the amount of merit aid you can get and see what makes the most sense to you.
Figure out where your talents lie and use them when you search for scholarships. It doesn’t have to be high marks. The Doodle for Google Scholarship rewards creativity.
When applying to a college or university, look at their financial aid section and scan for merit scholarships to see if you qualify.
International students who are entering freshmen at the College of Saint Benedict & Saint John’s University (CSB/SJU) are eligible for this award. Students must plan to enroll full time and have a grade point average of 3.25 or higher.
This award is available to Massachusetts high school sophomores or juniors who demonstrate difficult personal circumstances and high financial need. Students must enroll full time at a Massachusetts college or university and have a grade point average of 2.5 or higher.
This award is available to Massachusetts high school students who are planning to attend one of the nine state colleges in Massachusetts. The student must be enrolled within three years after high school graduation and have a GPA of 3.75 or higher and a SAT score of at least 1200 (or the ACT equivalent).
This award is available to Wisconsin high school seniors who are planning to attend a University of Wisconsin campus, a college in the Wisconsin Technical College System, or an independent institution in Wisconsin. Students must have the top grade point average in their high school graduating class.
Entering freshmen who are residents of Nebraska planning to attend the University of Nebraska-Lincoln are eligible for this award. Students must enroll full time and have a grade point average of 3.75 or higher.
International undergraduate students who have completed 30 or more hours of college credit are eligible for this award. Students must be attending Southeast Missori State University and have a grade point average of 3.25 or higher.
International students currently attending Southeast Missouri State University who have completed 30 or more hours of college credit are eligible for this award. Students must be enrolled in a human environmental studies program and have a grade point average of 2.5 or higher.
This award is available for high school seniors, undergraduate and graduate students who have been admitted to Southeast Missouri State University by March 1. Preference will be given to students from Malaysia.
U.S. students who are Maryland residents enrolled full time in a college or university in Maryland with a grade point average of 3.0 or higher committed to pursuing careers as CPAs are eligible for this award. Students must have completed 60 hours of college credit at the time of award, with six or more of those hours in accounting courses.
International and U.S. students attending an accredited institution in the United States who are members of the Institute of Management Accoutants are eligible for this award. Students must have the expressed intent of pursuing a career in management accounting, financial management, or information technology or have declared a major parallel to one of the predefined fields of study listed above and have a grade point average of 3.0 or higher.
