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

Hays Memorial Scholarship
Total Worth: Tuition, double occupancy residence hall room, unlimited board plan (without Burrow Bucks), and mandatory fees
Eligibility: Tuition, double occupancy residence hall room, unlimited board plan (without Burrow Bucks), and mandatory fees
Minimum Criteria: 3.6 GPA, 32 ACT, 1430 SAT
Requirement for maintenance: a cumulative GPA of 3.0 or higher and selects housing and meal plan options covered by the award
Separate application needed: No

President’s Scholarship
Total Worth: Tuition; half the cost of a double occupancy residence hall room, unlimited board plan
Eligibility: Tuition; half the cost of a double occupancy residence hall room, unlimited board plan
Minimum Criteria: 3.6 GPA, 32 ACT, 1430 SAT
Requirement for maintenance: a cumulative GPA of 3.0 or higher
Separate application needed: No

Madison Murphy Leadership Scholarship
Total Worth: Tuition; half the cost of a double occupancy residence hall room, unlimited board plan
Eligibility: Tuition; half the cost of a double occupancy residence hall room, unlimited board plan
Minimum Criteria: 3.6 GPA, 32 ACT, 1430 SAT
Requirement for maintenance: a cumulative GPA of 3.0 or higher
Separate application needed: No

Hendrix College provides aids at an average of 41885 per student meeting 90% of students need. 100% of students with need receive financial aid at an average of 37973 need-based grant. They also provide other scholarships including Robert & Ruby Priddy Scholarship and Performing and Fine Arts Scholarship.