Yeah, Arkansas Tech University does provide scholarships based on merit. Here are some of them:

Board of Trustees Scholarship
Total Worth: $5000 per semester for up to eight semesters or until the completion of an undergraduate degree, whichever comes first.
Eligibility: $5000 per semester for up to eight semesters or until the completion of an undergraduate degree, whichever comes first.
Minimum Criteria: Graduating senior who has a minimum of a 30 ACT composite (or equivalent SAT) and 3.25 cumulative high school GPA.
Separate application needed: No
Application deadline: November 15 priority deadline; final scholarship deadline of February 15

Presidential Scholarship
Total Worth: $4500 per semester for up to eight semesters or until the completion of an undergraduate degree, whichever comes first.
Eligibility: $4500 per semester for up to eight semesters or until the completion of an undergraduate degree, whichever comes first.
Minimum Criteria: Graduating senior who has a 28-29 ACT composite (or equivalent SAT) and 3.25 cumulative high school GPA.
Separate application needed: No
Application deadline: November 15 priority deadline; final scholarship deadline of February 15

Governor’s Distinguished Scholars
Total Worth: $10,000 per year
Eligibility: $10,000 per year
Minimum Criteria: 32 or above on the ACT or 1410 on the SAT, have a 3.50 academic grade point average or are a National Merit Finalist attending an approved Arkansas public or private college or university.
Requirement for maintenance: The scholarship is renewable for up to three additional years provided the student meets the continuing eligibility standards.
Application deadline: February 1 of high school graduation year.

Arkansas Tech University provides aids at an average of 9235 per student meeting 57% of students need. 98% of students with need receive financial aid at an average of 4629 need-based grant. They also provide other scholarships including Military Dependent’s Scholarship and Charles D. and Edna B. Labahn Scholarship.