You kind of answered your own question. This is typical of the nation’s top schools and some even a rung below - like a Franklin & Marshall or Reed.
Then you have other schools (both public and private, that while still offering merit, are transitioning more money to need based vs. merit.
If you’re open to it and you tell us what your daughter is looking for - I’ll guess, small LAC and female, we can throw out ideas. Your best merit depending on state (so share your GPA (weighted and unweighted), ACT/SAT, ,ECs, etc. etc.) will be large publics but plenty of LACs give merit, even female only ones.
Many of us were in the same boat, albeit with different needs - ie we are merit hunters or value seekers and believe it or not, it’s not too late at certain, less prestigious schools.
Otherwise good luck to you in your search.