Is Pepperdine Regents scholarship strictly based on grades?

If I have average grades, like 3.7, but better SAT (1500) and very good ECs do I still stand a chance to get Regents Scholarship at Pepperdine?

I believe that it is mainly based on grades. “Highest grade point averages (as Pepperdine calculates them) and the highest standardized test scores”. There are other scholarships as well, like the George Pepperdine award.

It’s a combination of both grades and test scores. But the kids who get Regents are truly the absolute cream of the crop. My freshman year roommate had a 4.0 GPA and a 34 ACT (not sure about SAT) and did not get a penny of scholarship money.