Policies, practices, and methods of distribution of no-need/merit awards for undergraduate students at four-year colleges and universities were studied and compared to 1982 survey results. Questionnaires were returned by 367 schools. The average dollar value of non-need undergraduate scholarships was $1,000 or less for more than half of the responding schools. While 20 schools reported their academic scholarships average $5,000 or more, 56 respondents stated that the average value was $500 or less. The average dollar value of non-need academic scholarships appeared to increase slightly since 1982. Over 90 percent of the institutions indicated that scholarships are renewed annually. Information is also provided on: the average annual value of no-need academic scholarship, the change in dollar value of renewed no-need academic scholarship, the total number of no-need academic scholarships awarded to incoming full-time undergraduates in fall 1983, the length of time the no-need award program had been in existence, the percentage of no-need academic scholarship recipients receiving need-based aid, and the geographic distribution by region of institutions awarding the scholarships. A list of the participating schools and the questionnaire are appended. (SW)