What Test Scores Needed for Large Merit Scholarships from Selective Colleges

If it’s helpful, my daughter will be attending Grinnell this year and was awarded their top merit scholarship, Presidential, at $50K per year. We were obviously thrilled, but also a bit stunned. I have no idea what the criteria are or how many of these they give out. She had strong stats (35 ACT, 3.9 UW, 4.8W), some ECs but nothing mind-blowing (JV sports, clubs, volunteer work). She was also an NMF (which means Grinnell gives another $2K per year). We are a white middle-class family who qualified for financial aid as well, so she weighed some nice offers with the same EFC (Northwestern, Vasser, Oberlin, Macalester). But what can I say - she LOVED Grinnell.