Definitions for "Merit-based Financial Aid"
Financial aid that is based on some type of merit (e.g., academic achievement, athletic achievement, fine arts ability), rather than on financial need.
Financial aid granted based on merit (i.e., talents or accomplishments) rather than financial need.
Financial aid, including scholarships, which are awarded based on the merit of the applicant (i.e. academic, special talent, competition), excluding athletic aid. The financial need of the applicant may or may not be taken into consideration.