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

Founders Scholarship
Total Worth: $24,000 per year
Eligibility: $24,000 per year
Minimum Criteria: 4.0 minimum cumulative grade point average, Class rank in the top 5% (if high school determines rank), ACT: 28 or SAT: 1240

President’s Scholarship
Total Worth: $22,000 per year
Eligibility: $22,000 per year
Minimum Criteria: GPA: 3.85, ACT: 27, SAT: 1200

Dean’s Scholarship
Total Worth: $20,000 per year
Eligibility: $20,000 per year
Minimum Criteria: GPA: 3.6, ACT:24, SAT: 1090

Luther College provides aids at an average of 38605 per student meeting 92% of students need. 100% of students with need receive financial aid at an average of 30804 need-based grant. They also provide other scholarships including Alumni Referral Scholarship and Diversity Enrichment Scholarship.