Merit-based scholarships are financial awards given to students based on their academic, artistic, or athletic achievements rather than financial need. These scholarships aim to recognize and encourage excellence in various fields, helping students pursue their education without the burden of excessive debt. Eligibility for merit-based scholarships often includes maintaining a certain grade point average (GPA) or demonstrating exceptional talent in areas like sports, music, or art. Many colleges and universities, as well as private organizations, offer these scholarships to attract high-achieving students to their programs.