Merit Aid: How it Works

Good grades and strong test scores do not always translate into college aid. This kind of financial aid is called merit aid, and not all colleges offer it. The majority of state universities and the most selective colleges, including the Ivy League and elite liberal arts colleges, only offer need-based aid and do not offer academic merit aid. Yet, many smaller, perhaps less-known private colleges offer academic merit aid of substantial value — from $5,000 per year up to a full-ride. This article provides an informative explanation.