PSAT Scores & College Scholarships
The National Merit Scholarship Corporation administers the preliminary SAT, or PSAT, test, given to qualifying high school students. High scores on the PSAT can set students up for college scholarships. Specifically, students can qualify as National Merit Scholars, an impressive distinction that can enhance their college admissions profile and qualify them for scholarships inside and outside The National Merit Scholarship Corporation. Annually, the top 50,000 national scorers become National Merit commended students, while a group of 15,000 or less receives the highest distinction, National Merit Scholar.
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National Merit Scholarships
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Every student who earns the distinction of being a National Merit Scholar through their PSAT scores is considered for a National Merit scholarship. This scholarship, awarded on a state by state basis, is a one-time award worth $2,500. The organization awards the scholarship without regard for the student's financial need, college choice or career plans.
Corporate-Sponsored Scholarships
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Corporations and foundations also distribute scholarships to high PSAT scorers identified as National Merit Scholars. In total, more than 1,000 national organizations sponsor scholarships for National Merit Scholars. For example, Boeing offers scholarships to children of its employees who earn the National Merit Scholar distinction. National Merit Scholars can check with corporations and foundations to which they are connected to see if they qualify for a scholarship.
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College-Sponsored Scholarships
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Many colleges pride themselves on the number of National Merit Scholars they can attract. Since having these scholars enrolled at their college or university benefits the school, many schools offer scholarships to attract high PSAT scorers. For example, the University of Florida offers nine endowed scholarships to students honored as National Merit Scholars and who chose UF as their first-choice school. National Merit Scholars should check with their college of choice to find out about scholarship opportunities available to them.
Non-Scholar Awards
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Though students chosen as National Merit Scholars have access to more scholarships, students who scored well enough on the PSAT to earn the distinction of commended students or semifinalists can also receive compensation. The National Merit Scholarship Corporation, in conjunction with business and organizations, distributes 1,300 scholarships a year to these students. Students apply for these scholarships, and the student's high school submits an application detailing the student's achievements.
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