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Merit Based Financial Aid and Misconceptions
Merit based financial aid, including scholarships, can cover a significant portion of high merit students' education. Many universities outside of the top 15 or 20 offer some form of merit based financial aid, including scholarships and aid based on students' grades, test scores, and extracurricular activities. It's important for students seeking financial aid to apply to universities that offer merit based aid, as some prestigious universities, like the Ivy League, only offer need based aid.