The National Merit Scholarship is an award given to students who score very well on the PSAT and meet the requirements to be named a National Merit Scholar. All students who take the PSAT are automatically entered into the program, but only a select few will be named Finalists and earn money to put towards their college education. This quick guide will answer everything you need to know about the scholarship, eligibility requirements, and the PSAT.
What is the National Merit Scholarship?
The National Merit Scholarship is a set of three different award programs that are dedicated to students who do exceptionally well on the PSAT hosted by the National Merit Scholarship Corporation. Every student who takes the PSAT is automatically entered into the running. In 2023, it was estimated that 3.5 million students took the PSAT, and 1.3 million met the requirements to enter the program. However, not all 1.3 million students received scholarships.
Only 50,000 participants will be named to the National Merit Scholarship Program, and only around 16,000 will receive recognition as a Semifinalist. The remaining 34,000 will be named Commended Students and receive Letters of Commendation. Details of a student’s placement and the next steps to apply for the scholarship will be sent to the student’s high school.
Semifinalists have to complete certain requirements in order to advance to be named a Finalist. Just over 7,000 Finalists will be named National Merit Scholars and receive an offer for a National Merit Scholarship.
What are the Benefits of Being Named a National Merit Scholar?
One of the main benefits of being named a National Merit Scholar is of course the monetary benefit. All scholars will be offered one of the three scholarships through the program: the National Merit $2,500 scholarship, a corporate-sponsored merit scholarship, or a college-sponsored merit scholarship.
The other major benefit is it looks amazing on your college applications. Even if you’re named a Commended Student and don’t advance to become a scholar, colleges can take notice of your achievement and it could give your application a boost!
How Can You Apply for the National Merit Scholarship?
All students who take the PSAT are automatically entered into the National Merit Scholarship program. Using their PSAT Selection Index math formula, the National Merit Scholarship Corporation will determine which students scored high enough to qualify for the program.
Here’s the Scoring Formula: (Math score + Reading score + Writing and Language Score) X 2 = Your PSAT Selection Index
The required minimum score can change from year to year and will vary from state to state, but usually only scorers in the top 1% are recognized. For example, in 2021 the PSAT cutoff for the National Merit Semifinalist for Florida was in 216. In Connecticut, it was 221.
If you are selected as a Semifinalist, you will have to do a few things to apply to be named a Finalist, including:
- Submit an application
- Show a very high and consistent academic record (3.5 or above is usually needed), and submit your transcripts
- Write an essay
- Be endorsed and recommended by a school official
- Submit details about your school’s programs and grading system
- Take the SAT and ACT, earn a high score that confirms your PSAT score, and submit your scores by December 31st of your senior year
- Be enrolled as a high school student and be progressing normally towards graduation
- Attend high school in the United States, DC, or U.S. commonwealths and territories
- Turn in your application materials before the deadline (usually early to mid-October)
Tips for Submitting Your Application
Being named a Finalist is competitive! To give yourself a boost, it is recommended that you:
- Take time on your essay. The prompt changes every year, but your essay should showcase your personal achievements, goals, and writing abilities. Have others read over your essay before you submit it.
- Showcase your extracurricular activities and community involvement. In the Activities portion of your application, be sure to list how you’re involved in clubs, extracurriculars, and your community. Highlight passions and leadership skills.
- Aim for a 1400 or higher on the SAT (or ACT equivalent). The National Merit Scholarship Corporation is looking to make sure your high PSAT score wasn’t an “accident.” To prove this, you will need to score well on the SAT or ACT.
3 Types of National Merit Scholarships
There are three types of National Merit Scholarships, but Scholars should note that they can only win one of the three.
1. National Merit $2,500 Scholarship
A committee of college admissions officers and high school counselors select the winners for the National Merit $2,500 Scholarship. Finalists compete with other Finalists in their own state. The number of scholarships per state is proportional to the state’s percentage of the country’s graduating high school seniors. Winners are selected based on their academic achievement and potential college success. The scholarship is not renewable.
2. Corporate-sponsored Merit Scholarships
The professional staff of NMSC selects the winners of these scholarships. Eligibility for corporate-sponsored merit scholarships varies vastly among the hundreds of corporations, company foundations, and business sponsored scholarships. Some eligibility requirements include being a child of an employee, a resident of a specific community, or having a certain major or career plan. Scholarships range from $1,000 to $10,000 and some are renewable.
3. College-sponsored Merit Scholarships
Officials at the sponsoring college select these scholarships and typically notify winners in early May. Awards are renewable for four years and range from $500 to $2,000 per year. Not all colleges participate in this program, however.
Tips for Doing Well on the PSAT
Preparing for the PSAT is an absolute must if you want a chance at being named a National Merit Scholar. Not only will it help you have a better chance of winning an award or scholarship money, it will also help when it’s time to take the real deal in the SAT the following year. Here are some great tips to help you prepare for the PSAT.
Set Goals
First, consider your goals when it comes to your PSAT prep. What are you hoping to achieve? Are you looking for just a practice test for the SAT, or are you looking to seriously contend for the top awards? Competition for the scholarship is very, very steep so you will have to put a lot of work in if you want to get a top score.
We also recommend being realistic with your expectations. Not every student will qualify for the competition and that’s okay. It’s important to remember what you take away from this experience, even if it’s not an award.
Identifying your goals though will help give you direction for the other preparation steps.
Create a Study Schedule
One of the most important things you can do when it comes to getting ready for the exam is to create a study schedule. You don’t want to burn yourself out, but you also don’t want to study the minimum amount. You need to find balance with the rest of your schedule that includes school, work, extracurriculars, homework, and social time.
Your study schedule should reserve time for practice tests, weak subject study, strong subject study, and, of course, breaks. This will help ensure you’re consistently working towards your goals.
Take Practice Tests
One step you can’t skip when preparing for the PSAT is to take practice tests. However, you don’t want to just take practice test after practice test. You want to look at the results. Where did you struggle? Did you do way better in reading than math? Take notes of specific areas you need improvement. Was there a particular part of the math section that gave you the most trouble?
When taking practice tests, also make sure to follow the correct format. Time yourself, follow the rules you would have to follow in the real deal, and take breaks. This will give you an accurate picture of where you need improvement and where you’re doing great.
Study Your Weaker Areas (and Everything Else)
After you’ve taken a practice test and you know what gave you trouble, it’s time to really study. If the math section gave you problems, you will want to devote more of your study time to the math questions that gave you the most trouble.
However, that doesn’t mean you should completely ignore the other sections of the PSAT simply because you scored higher in them. You should absolutely return to these sections, review what you got wrong, improve, and keep your education in these subjects fresh.
| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
6.97%-15.03%* Variable
5.99%-14.00%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
 |
6.37% - 16.70% Variable
4.50% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.98% - 16.70% Variable
4.07% - 15.66% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.07% - 11.31% Variable
4.39% - 10.39% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
|
|
6.22% - 16.08% Variable
4.09% - 15.66% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
6.54% - 11.08% Variable
3.95% - 8.01% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 18.26% Variable
4.11% - 15.90% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
4.98% - 12.79% Variable
8.42% - 13.01% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
