Yeah, Bethany College does provide scholarships based on merit. Here are some of them:

Presidential Scholarship
Total Worth: Full Tuition
Eligibility: Full Tuition
Minimum Criteria: Minimum cumulative high school GPA of 3.5 and 1200 or higher in SAT score or 25 or higher Composite ACT score
Separate application needed: Yes
Application deadline: November 14

Kalon Leaders Scholarship
Total Worth: $19,500
Eligibility: $19,500
Minimum Criteria: Achievement in leadership and service
Separate application needed: Yes
Application deadline: February 8

Bethany Scholarship
Total Worth: $4,000 to $18,000 per year
Eligibility: $4,000 to $18,000 per year
Minimum Criteria: Base on student’s level of academic achievement

They also provide other scholarships including Alumni Referral Scholarship and Music Ensembles.