For students who excelled in high school and aced college entry exams, universities are more willing than ever to show you the money.
Results in a new book, "The Student Aid Game," show that merit-based scholarship money is on the rise at many institutions.
"It is more important than ever to be able to attract top students," said Morton Schapiro, a dean at the University of Southern California and co-author of "The Student Aid Game." It is this objective that drives schools to give more merit-based scholarships today, Schapiro said.
Between 1983-91, merit-based scholarships to first-year students at public universities grew an average of 12 percent annually, according to Schapiro's book. Private colleges' rate of increase is slightly higher at 13 percent.
Need-based scholarships also experienced growth, 10 percent yearly at private institutions and 6 percent at public.
Al Hermsen, assistant director of financial aid at the University, said Michigan has seen an increase in merit-based scholarship dollars since the mid-80s, but he was unsure about the increase's precise size.
"Merit scholarships have increased - not by leaps and bounds, but an increase," said Hermsen.
However, some are concerned that this increase in merit-based dollars is taking away money from those in need.
"Sure, that is the big worry," Schapiro said. But he said he feels the students who get these scholarships can have a lot of positive effects on colleges and universities.
Schapiro did say however, that these effects could be minimized if the institution had a completely separate honors college.
Students said they are also concerned that some might be deprived of an education. But, they said, if students have earned scholarships, they should receive them.
"I think it should be a concern, but people should be rewarded for doing well," said LSA senior Leah Gershon.
However, Gershon said she sees a potential problem if a student may be deprived of coming to school if merit-based scholarships cut into the funding for need-based scholarships.
LSA sophomore Steven Neid said the funding for some scholarships should not slice into funding for others.
"I think they ought to be able to find a balance between (merit- and need-based scholarships)," Neid said.
Neid said that perhaps merit-based scholarships should have some amount of need involved.
Hermsen said some scholarships at the University combine merit and need, depending on the relevant scholarship and the required criteria set for it.
LSA junior Kevin Fisher said that instead of putting need into merit-based scholarships, maybe universities should put merit into need-based ones.
"I think the need-based scholarships should have the merit along with it," Fisher said. "Scholarships should go more to people who need it as long as they merit it."
Fisher also said that instead of giving large merit-based scholarships to those who are not in need, universities should instead give prestige-centered scholarships, whose reputation is worth more than its value.