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

The Millennium Scholar’s Award
Total Worth: $11,000- $15,000 annually
Eligibility: $11,000- $15,000 annually
Minimum Criteria: 32 ACT /or 1450 SAT and 3.7 GPA
Separate application needed: Yes
Application deadline: December 1

The Chancellor’s Award
Total Worth: $7,000- $10,000 annually
Eligibility: $7,000- $10,000 annually
Minimum Criteria: 28 ACT/ or 1320 SAT and 3.5 GPA
Separate application needed: Yes
Application deadline: December 1

The Trojan Opportunity Expanded Scholarship
Total Worth: out-of-state portion of tuition costs
Eligibility: out-of-state portion of tuition costs
Minimum Criteria: Unconditionally Admitted to TROY with at least a 3.0 GPA/4.0 scale and a 22 ACT/ or 1120 SAT
Application deadline: December 1

They also provide other scholarships including Army ROTC Four-Year Scholarship and George H. Malone Memorial Scholarship.