Yeah, New Mexico Highlands University does provide scholarships based on merit. Here are some of them:

Regent’s New Mexico Scholars Scholarship
Total Worth: Tuition and Fees plus $500 per semester
Eligibility: Tuition and Fees plus $500 per semester
Minimum Criteria: Top 5 percent of class or 25 ACT
Requirement for maintenance: complete at least 12 credits per semester with a minimum 3.0 GPA
Separate application needed: No

Presidential Gold Scholarship
Total Worth: $6,000 per year
Eligibility: $6,000 per year
Minimum Criteria: 3.75 HS GPA and 25 ACT
Requirement for maintenance: completion of 15 credits and 2.5 GPA in second and subsequent semesters
Separate application needed: No

Competitive Scholarship
Total Worth: Out-of-state tuition reduced to in-state tuition rates and $200 Foundation scholarship
Eligibility: Out-of-state tuition reduced to in-state tuition rates and $200 Foundation scholarship
Minimum Criteria: High School GPA of 3.5 and 20 ACT or 3.0 GPA and 23 ACT
Requirement for maintenance: 15 credit hours and a 3.0 GPA
Separate application needed: No

New Mexico Highlands University provides aids at an average of 1553 per student meeting 19% of students need. 100% of students with need receive financial aid at an average of 1838 need-based grant. They also provide other scholarships including College Affordability Grant.