Merit-based scholarships are financial awards given to students based on their academic, artistic, or athletic achievements rather than their financial need. These scholarships aim to recognize and reward students who demonstrate exceptional performance in their studies or extracurricular activities, encouraging them to continue excelling. These scholarships can be offered by various organizations, including colleges, universities, and private foundations. They often have specific eligibility criteria, such as maintaining a certain grade point average or participating in particular activities. Recipients of merit-based scholarships can significantly reduce their educational expenses, making higher education more accessible.