Merit vs. Need-based Aid

Merit-based aid is financial support awarded based on a student's achievements, talents, or accomplishments—such as high grades, athletic skill, or artistic talent—regardless of financial situation. Need-based aid, on the other hand, is awarded based on a student's or family's financial need, aiming to help those who cannot afford college costs. While merit aid rewards excellence, need-based aid aims to make education accessible for students with limited financial resources. Both types can help reduce the cost of college, and some students may qualify for a combination of both.