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

Academic Scholarships
Separate application needed: No

Salve Regina University provides aids at an average of 29388 per student meeting 70% of students need. 100% of students with need receive financial aid at an average of 25375 need-based grant. They also provide other scholarships including Visual and Performing Arts Scholarship and Aquidneck Island Multicultural Scholarship.