This question has been asked repeatedly in the last few days. You will find links in that thread to other threads discussing the same topic.
The short answer is that, typically, ED students don’t receive merit awards. There is no incentive for them to lure an ED student with cash. Run the NPC to see what it says about what you will pay. And merit awards are often then used against whatever FA you might be awarded. So the award will be part of your FA.