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What is the difference between need-based aid and merit scholarships?

April 26, 2017aid merit need-based scholarships

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What is the difference between need-based aid and merit scholarships?

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Need-based aid is awarded to admitted students based purely on the family’s financial status without acknowledgement of the student’s ability. Merit scholarships are solely based on a student’s specific talents or accomplishments (i.e. academic, departmental, or community involvement). These scholarships are awarded at time of admittance and have no basis on the family’s ability to fund the college experience.