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

Transfer Presidential Scholarship
Total Worth: $10,000-$12,000 per year
Eligibility: $10,000-$12,000 per year
Minimum Criteria: A GPA of 3.0 or higher

Founders Scholarship
Total Worth: $15,000 per year
Eligibility: $15,000 per year
Minimum Criteria: Recipient must be a member of Phi Theta Kappa for a full semester with a GPA of 3.75 or higher

Stephens College provides aids at an average of 25024 per student meeting 38% of students need. 100% of students with need receive financial aid at an average of 12155 need-based grant.