Ha ha ha! I'm a member of Mensa, too. And the answer is, "No". IQ is a measurement of POTENTIAL. Merit-based scholarships are usually given in recognition of ACTUAl academic merit -- demonstrated academic performance.
IQ alone is not a good predictor of college success. There are many very intelligent people who don't do well in school, for many different reasons. Likewise, there are many people with average, or even below average, IQs who do well in school. I taught at a university in the American Midwest, and I can tell you I prefer a student who has natural curiosity, a good attitude, good people skills, a strong work/study ethic, and an IQ of 95... than a student with an IQ of 130 who does not possess those other qualities.
Furthermore, one's IQ has more significance in certain fields of study, and not so much in others -- because IQ tests do not equally measure all types of ability.
In my experience, the best way for a foreign student to receive scholarships in the US is to attend college in their home country and excel... and then to forge a relationship with someone from your home country who TEACHES in the US, and get that professor to sponsor you for graduate school. (I don't agree with this practice, but it happens ALL THE TIME.)