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.
This scholarship is open to U.S. undergraduate and graduate students who have been diagnosed with cystic fibrosis. Students are selected on the basis of scholastic ability, character, leadership potential, service to the community, and need for financial assistance.
The L. Phil and Alice J. Wicker Scholarship is for a licensed radio amateur with a general class or higher license who is a resident of and attends college in the ARRL Roanoke Division (North Carolina, South Carolina, Virginia, West Virginia). The student must be pursuing a bachelor’s degree or higher in electronics, communications, or related fields.
This award is available for current high school seniors who are sons or daughters of International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, its Territories and Canada (IATSE) members in good standing.
This award is for international and U.S. high school, undergraduate, and graduate students who write a 400- to 600-word essay based on one of Dr. Charles Parker’s quotes. Students must submit their essays online at the CrossLites website.
This award is available for U.S. high school seniors who are 16 years of age or older at time of application. Students must have a grade point average of 2.5 or higher, be involved in community service, and demonstrate financial need.
This award is open to international and U.S. licensed radio amateurs (general class or higher) who are residents of and attending school in West Virginia. Students must have a grade point average of 3.0 or higher.
This scholarship is available for undergraduate students who have a grade point average of 3.0 or higher and plans to major in a STEM field. Applicants must submit an original work that presents creative ideas for solving the budget deficit while educating and empowering our youth.
Pinsky Law supports, and provides its services to, entrepreneurs and startup companies. This is the reason we developed and maintain the legal resources for startups section on this website. We know that establishing and operating a new venture is challenging and requires commitment of substantial financial resources. Founders of a new venture must be personally and financially committed to their startup business. Many entrepreneurs mortgage their homes, cash RRSP, and use credit cards to finance the initial operations of the new venture. Access to these sources of capital may be critical to the startup, but these resources come at a high emotional and financial cost. To assist driven, up-and-coming, entrepreneurs who are committed to building their startup businesses, we have set up the New Venture Development Scholarship. To apply for the New Venture Development Scholarship please send us, in confidence, in PDF format, a copy of a business plan for your existing or prospective business, along with the information outlined in the scholarship criteria below. Pinsky Law is a business, taxation, and intellectual property law firm, and therefore we require the applicants to include in their business plan a section outlining taxation and intellectual property strategy for their business.
This scholarship is available for high school seniors residing in South Carolina who plan to attend Clemson University. Applicants must be in the top 10% of their high school class, and have an SAT score of 1270 or higher, or an ACT score of 27 or higher.
