The purpose of this study was to examine the relationship between race/ethnicity and the college degree attainment of underrepresented racial minority (URM) students receiving a merit-aid scholarship. Using an institutional database from a highly selective public university, multiple statistical techniques were conducted to examine how degree attainment differed between the different groups of URM students. Evidence from this quasi experimental, ex post facto study confirms previous research studies identifying factors that contribute to the looming gap in achievement for Black and Hispanic students in higher education. suggests that (a) Hispanic and Black scholarship students are entering with significantly lower ACT scores compared to White and Asian scholarship students, (b) Black scholarship students are entering college with significantly lower ACT scores compared to their Hispanic counterparts, (c) Black scholarship students significantly attend more schools with higher free or reduced lunch (FRL) eligibility status, (d) there exist differences in the degree attainment of URM scholarship recipients based on race/ethnicity due to an overrepresentation of Black and Multiracial students not graduating, and (e) factors including gender, race/ethnicity, attending a suburban high school, attending a selective enrollment high school (SEHS), FRL eligibility status, and ACT scores were influential of URM scholars' degree attainment. More importantly, the results of this study highlights the importance of variation between race/ethnic groups suggesting that the experiences of underrepresented groups are never monolithic; therefore, they require critical analysis of the within-group and between-group differences, including those receiving a merit-based scholarship. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]