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What’s the difference between need-based and merit aid?

aid difference merit need-based
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What’s the difference between need-based and merit aid?

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Most aid at Macalester is based on each applicant’s financial need; this is called “need-based” aid. We look at family income and other factors to determine aid packages. Macalester emphasizes need-based aid to keep the college accessible to talented students from a variety of economic backgrounds. Macalester offers several special scholarships that are based on academic merit rather than financial need. With the exception of the National Merit Scholarship (which requires a special procedure), you will automatically be considered for merit-based aid when you apply for admission to Macalester. Merit-based scholarships are awarded for a four-year period. If you qualify, you may receive need-based financial aid in addition to these scholarships.

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