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Merit-based scholarship refers to cash awards given to students on the basis of their remarkable qualities, abilities, or academic accomplishments. Merit-based scholarships largely assess a person's academic achievement, abilities, and potential, as opposed to need-based scholarships, which concentrate on a student's financial background. These scholarships are intended to encourage students to keep doing well in their chosen fields by rewarding those who achieve excellence in their coursework and other extracurricular activities.
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