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

Presidential Scholarship
Total Worth: $15,000-$18,000 per year
Eligibility: $15,000-$18,000 per year
Minimum Criteria: a 27 ACT, 3.5 GPA
Separate application needed: No

Augustana Academic Scholarships
Total Worth: $10,000-$18,000 per year
Eligibility: $10,000-$18,000 per year
Minimum Criteria: on the basis of academic achievement
Separate application needed: No

Foreign Student Grant
Total Worth: Varies
Eligibility: Varies
Minimum Criteria: based on academic credentials
Separate application needed: No

Augustana University provides aids at an average of 27792 per student meeting 89% of students need. 100% of students with need receive financial aid at an average of 24784 need-based grant. They also provide other scholarships including Diversity Scholarships and Augustana Grant.