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

Collegiate Fellowship
Total Worth: Full tuition
Eligibility: Full tuition
Minimum Criteria: at least a 28 ACT composite or a 1310 SAT
Requirement for maintenance: enrolled as a full-time student, your cumulative GPA is 3.00 or higher and live in the residence halls

Capital Scholars Award
Total Worth: Full tuition
Eligibility: Full tuition
Minimum Criteria: at least a 3.00 cumulative GPA and at least a 21 ACT composite or a 1060 SAT
Requirement for maintenance: enrolled as a full-time student, your cumulative GPA is 2.50 or higher and live in the residence halls

Capital University provides aids at an average of 30669 per student meeting 87% of students need. 100% of students with need receive financial aid at an average of 25304 need-based grant. They also provide other scholarships including ROTC scholarships and Conservatory Performance Award.