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

Arrupe Scholarships
Total Worth: $12,500 annually to full tuition
Eligibility: $12,500 annually to full tuition
Minimum Criteria: Based on academic performance

Trustee Scholarships
Total Worth: full tuition, room and board
Eligibility: full tuition, room and board
Minimum Criteria: Based on academic performance

Presidential Scholarships
Total Worth: $25,000
Eligibility: $25,000
Minimum Criteria: Based on academic performance

Loyola Marymount University provides aids at an average of 28854 per student meeting 99% of students need. 68% of students with need receive financial aid at an average of 21349 need-based grant. They also provide other scholarships including Robert and Lois Atherton Foundation Scholarship and Alliance of Women Philanthropists Scholarship.