How To Maximize Your Merit-Based Financial Aid

When it comes to merit-based financial aid, students are awarded based on their academic accomplishments, special skills, and demographics. You may qualify for merit-based financial aid if you’ve earned good grades in high school, or you’ve gained special recognition for your skills in any field, or for your dedication to community service, or belong to a racial minority majoring in a specific field. All of these require persistent hard work and commitment and if you qualify, it makes sense that you should look for ways to maximize your financial aid opportunities.


Good grades pay, in multiple ways. Not only can a high GPA or an impressive ACT/SAT score boost your acceptance odds, it can also qualify you for more scholarship opportunities. Class rank can sometimes pay a factor too, so study hard!

Extracurricular Activities

What you do outside of school hours matters too. Colleges love seeing students dedicated to one or two (maybe three) extracurricular activities throughout their high school career—dedication over quantity. But extracurriculars can also earn you scholarships—especially if you plan to continue that extracurricular in college. Keep an eye out for scholarships relating to your favorite sports, arts, and community services.


Believe it or not you can find scholarships that award you for being you. Are you a member of a racial minority? There are scholarships for that. Have strong faith in a particular religion? There’s a scholarship for that. Have a disability or health condition? There’s a scholarship for that. Have a niche hobby? There’s a scholarship for that.


If you know what you want to major in, search for scholarships based on it. There are, no doubt, a plethora of opportunities available based on your field of study. Sometimes a scholarship will offer an award to someone studying under a broadly defined field—like Communication (majors could include Journalism, English, Broadcast, etc.) or Engineering (Mechanical, Chemical, Electrical, etc.)

And when merit-aid isn’t enough, use College Raptor’s new Student Loan Finder to compare lenders and interest rates side by side to discover the ideal loan for you!




Lender Rates (APR) Eligibility
Sallie Mae logo.
1.13% to 11.23%1 Variable
3.50% to 12.60%1 Fixed
Undergraduate and Graduate
Credibe company logo.
1.04% to 13.19% Variable
3.00% to 14.14% Fixed
Undergraduate and Graduate
Lendkey company logo.
1.49% to 7.64% Variable >800 FICO
3.99% to 7.64% Fixed
Undergraduate and Graduate
Ascent company logo.
1.82% to 11.32% Variable
3.27% to 12.46% Fixed
Undergraduate and Graduate
College Ave company logo.
0.99% to 11.98% Variable
2.99% to 12.99% Fixed
Undergraduate and Graduate
3.47% to 6.11% Variable
4.60% to 7.40% Fixed
Undergraduate and Graduate
Earnest company logo.
1.04% to 11.44% Variable
3.34% to 12.78% Fixed
Undergraduate and Graduate
1.20% to 11.59% Variable
3.31% to 11.99% Fixed
Undergraduate and Graduate
1Variable interest rates start from 4.12% APR to 10.98% APR. We also offer fixed interest rates from 5.74% APR to 11.85% APR. Click here for important information. Terms, conditions, and limitations apply.
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

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