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

President’s Gold Scholarship
Total Worth: $20,000 – $22,000
Eligibility: $20,000 – $22,000
Minimum Criteria: Based on academic performance
Requirement for maintenance: a Baylor cumulative GPA of 3.0 or higher
Separate application needed: No

Provost’s Gold Scholarship
Total Worth: $17,000 – $19,000
Eligibility: $17,000 – $19,000
Minimum Criteria: Based on academic performance
Requirement for maintenance: a Baylor cumulative GPA of 3.0 or higher
Separate application needed: No

Dean’s Gold Scholarship
Total Worth: $15,000 – $16,000
Eligibility: $15,000 – $16,000
Minimum Criteria: Based on academic performance
Requirement for maintenance: a Baylor cumulative GPA of 3.0 or higher

Baylor University provides aids at an average of 33682 per student meeting 72% of students need. 100% of students with need receive financial aid at an average of 27714 need-based grant. They also provide other scholarships including Living-Learning Center Scholarships and Baylor Sibling Scholarship.