Yeah, Stevens Institute of Technology does provide scholarships based on merit. Here are some of them:

The Ann P. Neupauer Scholarship
Total Worth: full-tuition
Eligibility: full-tuition
Requirement for maintenance: satisfactory academic progress and maintain a minimum GPA of 3.2
Separate application needed: No

The Edwin A. Stevens Scholarship
Requirement for maintenance: satisfactory academic progress
Separate application needed: No

The FIRST Scholarship
Total Worth: $6,000 per year
Eligibility: $6,000 per year
Requirement for maintenance: satisfactory academic progress
Separate application needed: No

Stevens Institute of Technology provides aids at an average of 31639 per student meeting 71% of students need. 99% of students with need receive financial aid at an average of 13787 need-based grant. They also provide other scholarships including The Clark Scholarship and Global Scholars Awards.