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

Academic Excellence Award
Total Worth: $1,000-$6,000 per year
Eligibility: $1,000-$6,000 per year
Minimum Criteria: 3.00 GPA & Higher; SAT 1030+; ACT 20+
Requirement for maintenance: maintaining continuous full-time enrollment and maintaining the required GPA

Colvard Future Leader Scholarship for Mississippi Residents
Total Worth: $1,000-$2,500 per year
Eligibility: $1,000-$2,500 per year
Minimum Criteria: 3.5 GPA & Higher; SAT 1160+; ACT 24+
Requirement for maintenance: maintaining continuous full-time enrollment and maintaining the required GPA

Colvard Future Leader Scholarship for Non-Residents
Total Worth: $1,000-$2,500 per year
Eligibility: $1,000-$2,500 per year
Minimum Criteria: 3.5 GPA & Higher; SAT 1230+; ACT 26+
Requirement for maintenance: maintaining continuous full-time enrollment and maintaining the required GPA

Mississippi State University provides aids at an average of 16612 per student meeting 61% of students need. 99% of students with need receive financial aid at an average of 6352 need-based grant. They also provide other scholarships including Air Force ROTC High School Scholarship Program and Student Body President Scholarship.