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All applicants are considered for merit scholarships; no additional application is required. Scholarships are awarded at the time of admission and are renewable for up to eight semesters, provided students remain in good standing.

For applicants entering in the fall of 2025, merit scholarships will be offered up to $35,000 per year. Merit scholarship recipients are selected based on a holistic review of applications.

The Diplomat Leadership Program aims to shape and inspire the next generation of student leaders. Selected students receive a scholarship and embark on a comprehensive, four-year examination of what it means to be a leader, community member, and force of change on our campus, in their communities, and in the world. Scholarships are awarded at the time of admission and are renewable for up to eight semesters provided students remain in good standing with the College. Students are selected after a brief application process following submission of the F&M admission application.

For applicants entering the college in the fall of 2023, this scholarship was $15,000 per year, renewable for up to eight semesters.

F&M is a multidivisional institution that sponsors NCAA Division I wrestling and 24 Division III teams. Following recent legislative changes that make it permissible for multi-divisional institutions to apply all Division I rules — including financial aid — to their Division I programs, F&M now offers athletic scholarships to qualifying wrestling student-athletes. The awarding of athletic scholarships is determined by the head coach.

F&M partners with the New York City and Miami chapters of The Posse Foundation to select and award full-tuition scholarships to 10 incoming students from each city. Posse Scholars follow the scholarship process via the .

F&M is a member of the Tuition Exchange, Inc., a consortium of approximately 700 colleges and universities that offer scholarships to the dependents of eligible employees at member institutions.