Yeah, Rhodes College does provide scholarships based on merit. Here are some of them:

Bellingrath Scholarship
Total Worth: $37,500 per year
Eligibility: $37,500 per year
Separate application needed: No

Morse Scholarship
Total Worth: 37,500 per year
Eligibility: 37,500 per year
Separate application needed: No

Cambridge Scholarship
Total Worth: $32,500 per year
Eligibility: $32,500 per year
Separate application needed: No

Rhodes College provides aids at an average of 39190 per student meeting 94% of students need. 100% of students with need receive financial aid at an average of 31593 need-based grant.