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

Trustee Scholarship
Total Worth: Full tuition
Eligibility: Full tuition
Separate application needed: No

21st Century Scholars
Total Worth: $25,000 per year
Eligibility: $25,000 per year
Minimum Criteria: Outstanding record of scholarship, cocurricular achievement, and considerable leadership potential
Separate application needed: No

Chin Scholars
Total Worth: $25,000 per year
Eligibility: $25,000 per year
Minimum Criteria: Excellence is paired with an impressive record of community service and engagement
Separate application needed: No

Mount Holyoke College provides aids at an average of 41558 per student meeting 100% of students need. 100% of students with need receive financial aid at an average of 37011 need-based grant.