Importance of Merit-Based Scholarships and Financial Aid

Merit-based scholarships and financial aid can play a significant role in helping students access higher education. Contrary to common misconceptions, scholarships are not impossible to acquire. In fact, a study by the US Department of Education revealed that high-achieving students receive an average of 58% of their tuition paid through merit-based financial aid. These scholarships are often offered by universities based on a student's grades, test scores, and extracurricular activities. To maximize opportunities for financial aid, it is advisable to apply to universities that provide merit-based scholarships in addition to need-based aid. While Ivy League universities focus on need-based aid, many other universities offer merit-based scholarships to attract talented students.