"It would've been a big stress to find money for uni," she said. "If I didn't have this grant I would be distracted and always thinking about how I would be able to pay for it."
Miss Meertens said she was jumping with excitement when she learned she was the recipient.
The 17-year-old said she was undecided whether she would specialise in chemical engineering or megatronics, which deals with robotics, when she starts university in Auckland in 2013.
The $20,000 will cover three years' tuition, expenses and mentoring.
Mr Beveridge said they would also provide part-time work for Morgan during the holidays.
"Fletcher Construction operates in over 40 countries and has 20,000 employees so it's a great chance for Morgan to get experience at a New Zealand company that can offer international opportunities."
PlaceMakers and Winstone Wallboards are divisions of Fletcher Construction.
Mr Beveridge said Western Heights High School was one of Rotorua's "little gems".
"It provides great grounding, education and life experience. There's something about the school and the values it imparts on its students, they seem to breed in a bit of self-belief."
Born and raised in Rotorua, Mr Beveridge left in 1978 but still comes back regularly.
"Some of my fondest memories from growing up in Rotorua are walking, swimming and boating. There's so much you can do in Rotorua - it's a playground of activities.
"I've got five children who we take back at least once a year. If you ask them 'where do you want to go - Australia or Rotorua', they always choose Rotorua."
He said Morgan was a very deserving recipient who would make the school proud.
Mr Thomas had received several university scholarships and said it made him want to provide another student the same chance.
"The scholarships made a big difference. I still would have made it through - my family would have sold raffle tickets and fundraised - but there's no doubt at the end of the day it helped a lot and took away some of the stresses and issues of having to work while studying."
Mr Thomas left Rotorua in the 60s but still visits once a month and is the Ngati Whakaue Tribal Lands chairman.
He said Western Heights High School set him up to make the right decisions.
The pair sponsored Morgan's scholarship through First Foundation, an educational trust founded to provide young New Zealanders with plenty of talent but few financial resources for tertiary education.
The scholarships are awarded to year 12 students to encourage them to stay focused in year 13.
It was the first time a scholarship has been awarded in Rotorua but the men said they had decided to award one each year.