You’ve most likely heard the term “merit scholarships” before, but what exactly does it mean? And more importantly, how do you get a merit scholarship?
A merit scholarship is an award that you do not have to pay back, and is based on your academic, athletic, artistic, or other special accomplishment, such as volunteerism or writing. The award is sometimes also based on your financial need, but most are primarily awarded on skill.
The awards are usually given directly to students by individual college or organizations based on particular achievements and may be renewable as long as you continue meeting the requirements of the scholarship. Specific requirements may include maintaining a certain GPA and full-time enrollment. (Always read the fine print when you receive a scholarship or grant so you can set realistic financial expectations for future funding.)
Eligibility requirements vary from college to college and organization to organization. At some colleges, you may have to complete a separate scholarship application by a specific deadline to be considered for a merit scholarship. Excellent grades are usually a must, and sometimes you are required to have received an award from a well-known association, such as the National Honor Society, to be considered. Other schools may also track your graduation rank and require a specific ACT or SAT score. If you think you may be in consideration for a merit scholarships based on your academic achievements and other special accomplishments, contact the financial aid office of the colleges you are applying to and find out their process for awarding merit scholarships. Always contact the college as soon as possible; waiting too late could cause the college to deny you consideration if the money has already been awarded to other applicants.
Please note: it is important to set realistic expectations up front. Very few students qualify for large merit awards that cover full tuition, room and board. Similar to athletic scholarships, the competition for merit scholarships can be fierce and few awards may be given. Just because you rank at the top of your high school class does not automatically guarantee a full-ride merit scholarship. College decisions should not be made on such assumptions.
One of the most popular merit scholarships is the National Merit Scholarship program. This is a national academic competition that you enter when you take the PSAT, usually during your junior year. Over a million students enter each year, so it is very competitive from the start!
Of the over million entrants, only 50,000 will qualify to compete for this award. The top 50,000 students are chosen based on an index of qualifying scores determined by the National Merit Scholarship Corporation (NMSC) for critical reading, math, and writing skills. About 16,000 of those students will go on to become semi-finalists. Those who do not make the semi-finalist round will receive letters of commendation for their high academic achievements.
The semi-finalists must fulfill additional requirements to advance to the final level, such as submitting SAT scores, transcripts and essays. All in all, less than 10,000 students receive a National Merit scholarship award, worth $2,500 and renewable up to four years. Other finalists may be eligible for a number of awards offered through various corporations and colleges affiliated with the NMSC. For complete details see the National Merit Student Guide.
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