Colleges offer merit awards to students who ordinarily would not qualify for financial help. Some have criticized this on grounds that merit awards disproportionately benefit students from wealthier communities with better school systems, siphoning resources away from lower-income students with greater financial need. A college's decision to grant merit awards is motivated by economic efficiency.

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Colleges offer merit awards to attract high-achieving students who may bring prestige and academic distinction to the institution. While some may criticize this practice as favoring wealthier students, it is ultimately motivated by the college's desire to remain competitive and financially sustainable. By offering merit scholarships, a college can attract a diverse pool of applicants and improve its overall reputation.

Colleges Offer Merit Awards to Students Who Ordinarily Would Not