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Would it look bad/should I try to request a merit-based fee waiver from schools where I am one point below their LSAT median but above their 75th percentile GPA? Is it common for schools to grant fee waivers if you are below one of the medians?

From what I've read fee waivers are meant to increase the applicant pool, not to ensure likely-admits will apply. If I were you I'd at least ask. If you don't ask, you won't receive (though some schools send them out unprovoked, you know what I mean).

Worst thing they can do is say, "no."

Your title says below both medians... I would say ehh, what do you have to lose?

However, your opening post says one above and one below, in that case... I would look at LSN and see which school's have granted fee waivers to students with similar numbers in the past and send to those schools. Off the top of my head, USC does not give fee waivers unless you are above both their medians.

Just do it.

Thanks! I just sent out a few requests so we'll see if anyone gets back to me.. And to clarify I am only below one median (1 pt.. grr!).

Just ask. My responses have been across the spectrum. Some schools are nice, a few slightly annoyed (ironically a couple of the put off schools my LSAT was above their median). However, I did successfully solicit a fee waiver from a school where I was below the LSAT median.

I dont exactly remember, but I think I got waivers at schools I didnt get into.