The $2,500 the National Merit Scholarship Corporation awards National Merit scholars is no small amount of money. However, compared to the rising tuition, fees and book costs of most colleges and universities, it can seem like a drop in the bucket. Yes, there are additional corporate sponsorships and even school scholarships National Merit scholars qualify for, but some of these are for less than $1000 and some are one-time only gifts. So the question becomes, should students study hard for what most people consider just a preliminary SAT?
YES!
Besides the prestige you will have around the office water cooler when you brag about your progeny, scoring high enough on the PSAT to become a Scholar, a Finalist or a Semi-Finalist can equal big money at some schools—public and private. Read that last sentence again. I wrote Scholar, Finalist or Semi-Finalist. That means your student may only need to score high enough to make it to the last or penultimate round; he or she doesn’t even have to be the last one standing.
Below are tables that list schools and the awards they offer students at different levels of National Merit-ness. I’ve compiled this information from various Internet sources and believe most of it is current as of 2009. But as with all Internet information, please take it with a grain of salt. Consider it a guide, not a rule book. If you know of any additional information about any schools listed or schools left, please leave a comment. If you are interested in a particular school, we suggest you contact their Admissions Office and get the skinny from them.
A quick key to the language below:
Full ride: Tuition, room and board
Plus: May cover some or all of books, fees, etc.
Public Schools
| School | National Merit Finalist | National Merit Semi-Final |
| University of Alabama | Full ride | Full tuition with 3.5 GPA guaranteed |
| University of Alabama-Huntsville | Full ride | Full tuition plus guaranteed |
| Alabama State University | Full ride guaranteed | Full ride guaranteed |
| Auburn University | Full tuition plus guaranteed | Full tuition plus guaranteed |
| University of North Alabama | Full ride | Full tuition plus guaranteed |
| Troy University, AL | Full ride competitive | Full ride competitive |
| University of Arizona | Full ride guaranteed | Full ride guaranteed |
| Arizona State University | In-state: full ride ($15,000.00); out-of-state: full tuition plus ($23,000.00) | In-state: full tuition plus ($9,000.00) & out-of-state: $10,500.00) guaranteed |
| Southern Arkansas University | In-state: full ride; out-of-state: full tuition | In-state: full ride; out-of-state: full tuition |
| U of Central Florida | Full tuition plus | $9,000.00 guaranteed |
| University of Idaho | Full ride competitive ($25,000.00) | |
| Ball State University | Full ride guaranteed | |
| Eastern Kentucky University | In-state: full ride; out-of-state: full tuition guaranteed | In-state: full ride; out-of-state: full tuition guaranteed |
| University of Kentucky | Full ride first year & full tuition plus for remaining 3 years guaranteed | Full ride first year & full tuition plus for remaining 3 years guaranteed |
| Louisiana State University | Full tuition | Full tuition |
| University of Maine | Full tuition | Full tuition |
| Wayne State University, MI | Full Tuition | Full Tuition |
| University of Minnesota-Morris | Full tuition guaranteed | Full tuition guaranteed |
| Mississippi State University | Full tuition plus | Full tuition guaranteed |
| University of Southern Mississippi | Full ride | Full ride |
| Southeast Missouri State University | Full ride guaranteed | Full tuition guaranteed |
| University of Nebraska, Lincoln | Full tuition plus guaranteed | Full tuition plus guaranteed |
| New Mexico State University | Full ride | Full tuition plus guaranteed |
| Cleveland State University | Full tuition guaranteed | Full tuition guaranteed |
| Youngstown State University, OH | Full ride with ACT score of 30 or higher or 1300 SAT or higher | Full ride with ACT score of 30 or higher or 1300 SAT or higher |
| Ohio State University | Full tuition | Full tuition |
| University of Oklahoma | Full tuition plus guaranteed | Full tuition plus guaranteed |
| Oklahoma State University | Full tuition plus guaranteed | Full tuition plus guaranteed |
| University of Memphis, TN | $9,000.00 plus out-of-state fee waiver, full tuition plus guaranteed | $7,500.00 plus out-of-state: fee waiver, full tuition plus guaranteed |
| University of Houston | Full ride guaranteed | Full ride guaranteed |
| University of North Texas | Full ride | Full ride |
| University of Texas, Dallas | Full tuition plus guaranteed | |
| Texas Tech University | Out-of-state: full tuition ($12,700.00) guaranteed | Out-of-state: full tuition ($12,700.00) guaranteed |
| University of Texas, Tyler | Full ride | Full tuition plus guaranteed |
| University of Wisconsin, Oshkosh | In-state: full ride guaranteed | In-state: full ride guaranteed |
Private Schools
| School | National Merit Finalist | National Merit Semi-Final |
| Abilene Christian University | Full tuition guaranteed | Full tuition guaranteed |
| Alfred University | Full ride guaranteed with top 5% class ranking, otherwise full tuition/ride competitive | Full ride guaranteed with top 5% class ranking, otherwise full tuition/ride competitive |
| Alma College | Full tuition guaranteed, full ride competitive (first 15 to commit) | Full tuition guaranteed, full ride competitive (first 15 to commit) |
| Andrews University | Full tuition guaranteed | Full tuition guaranteed |
| Baylor University | Full tuition guaranteed | Full tuition guaranteed |
| Birmingham Southern College | Full tuition competitive | Full tuition competitive |
| Bradley University | Full tuition guaranteed (Call school for details, not on website) | Full tuition guaranteed (Call school for details, not on website) |
| Denison University | Full tuition competitive | Full tuition competitive |
| University of Evansville | Full tuition | 75% tuition guaranteed |
| Faulkner University | Full tuition guaranteed | Full tuition guaranteed |
| Fordham University | Full tuition plus competitive | Full tuition plus competitive |
| Harding University | Full tuition guaranteed | Full tuition guaranteed |
| Liberty University | Full ride | Full tuition guaranteed |
| Lipscomb University | Full tuition plus guaranteed | Full tuition plus guaranteed |
| Long Island University, C.W. Post | Full tuition competitive | Full tuition competitive |
| Northeastern University | Full tuition competitive | Full tuition competitive |
| Oakwood University | Full tuition plus | Full tuition |
| Oklahoma Christian University | Full ride guaranteed | Full ride guaranteed |
| Pacific Union College | Full tuition guaranteed | Full tuition guaranteed |
| Roberts Wesleyan College | Full tuition | Half tuition guaranteed |
| Spring Arbor University | Full tuition | Half tuition plus one-time $5,000.00 award guaranteed |
| Sterling College | Full tuition guaranteed | Full tuition guaranteed |
| University of Tulsa | Full ride competitive | Full ride competitive |
| Wesleyan College | Full tuition competitive | Full tuition competitive |
| Westminster College, UT | Full tuition | Half tuition guaranteed |
Additional Awards
| School | Award |
| University of Central Arkansas | $12,000.00 guaranteed with 3.25 GPA |
| California State University, Fullerton | In-state only: full tuition plus guaranteed |
| California State University, Long Beach | In-state only: full ride competitive |
| University of Florida | Out of state tuition waiver plus $4,000.00 guaranteed |
| New College of Florida | $17,500.00 guaranteed |
| Iowa State University | In-state full ride |
| University of Kansas | In-state only:$ 10k guaranteed |
| University of Louisiana-Lafayette | Check with school |
| University of Massachusetts, Amherst | In-state- full ride |
| Michigan State University | $750-$2,000.00 plus in-state $2,000.00 & out-of-state: $4,000.00 and room/board, competitive |
| University of New Mexico | Approximately &13,000.00, competitive |
| University of Akron, OH | $4,000.00 guaranteed plus |
| University of Cincinnati, OH | In-state full tuition plus; out-of-state: add $14,000.00 |
| Wright State University | In-state only: NMF full ride guaranteed, NMSF/Commended full tuition guaranteed |
| University of South Carolina | In-state: up to $10,000.00, out-of-state: up to $6,000.00 plus out-of-state fee waiver |
| University of Vermont | In-state NMF full tuition; out-of-state $10,000.00 guaranteed |
| University of Wisconsin, Eau Claire | Full in-state tuition guaranteed |
| Calvin College | $10,000.00 guaranteed |
| Concordia College | $14,000.00 guaranteed |
| University of Dallas | NMF: $14,000.00; NMSF $12,000.00 guaranteed |
| Franklin and Marshall College | NMF $10,000.00 guaranteed |
| Hope College | $17,000.00 guaranteed |
| North Central College | 3/4 tuition guaranteed |
| Rochester Institute of Technology | $15k guaranteed |
| University of Sioux Falls | Full ride competitive (Only one given) |
| University of Southern California | Half-tuition Presidential Scholarship guaranteed upon admission |
| Southern Methodist University | Half tuition plus $2,000.00 guaranteed) |
| St. Olaf College | $7,500.00 guaranteed |