Scholarship PSAT





What Scholarships Can PSAT Test-Takers Avail

Every year, many students across the US appear for the National Merit Scholarship PSAT test. The test is conducted in October every year: on a Wednesday and a Saturday. The National Merit Scholarship PSAT test is the gateway to availing many types of scholarships for your college education.

Scholarships are broadly categorized into four types. Each type of scholarship is explained below. The scholarships have certain prerequisites that you must fulfil in order to qualify as a finalist for the scholarship. However, you can be a beneficiary of only one scholarship from the National Merit Scholarship Corporation (NMSC).

National Merit® $2500 Scholarships

The National Merit Scholarships are considered unique amongst all other types of scholarships. It is unique because every finalist is considered for a scholarship and winners are announced for every state. The monetary value of this scholarship is $2500, and is awarded as a one-time payment. The number of scholarships awarded in each state is calculated based on the state’s percentage of the national total of high school graduating seniors. The finalists compete with the other finalists in their state for a National Merit scholarship.

Corporate-Sponsored Merit Scholarships

Organizations, corporations, company foundations, and businesses sponsor these scholarships. The monetary value of these scholarships varies. Unlike the National Merit scholarship, the scholarship can be awarded as a one-time payment or as a renewable amount (either a fixed or variable component).

Scholarships are awarded to finalists who meet the eligibility criteria specified by the corporate sponsor. Usually, scholarships are awarded to children of employees, residents who belong to specific communities, or candidates who have specific career plans and want to pursue a course specific to the interest of the sponsor. For example, an IT organization might offer scholarships for students willing to pursue a major in IT.

To view a list of organizations offering scholarships, see the PSAT/NMSQT Official Student Guide: National Merit® Scholarship Program on the National Merit Scholarship Corporation website: http://www.nationalmerit.org/

Corporate-Sponsored Special Scholarships

The monetary value and payment guidelines are the same, as the Corporate-sponsored merit scholarships, for this category of scholarships. These scholarships are awarded to high-performing program participants (may not be finalists) who meet the eligibility criteria of the sponsor.

The eligibility criteria to avail the corporate-sponsored special scholarships are the same as the eligibility criteria for the corporate-sponsored merit scholarships.

To view a list of organizations offering scholarships, see the PSAT/NMSQT Official Student Guide: National Merit® Scholarship Program on the National Merit Scholarship Corporation website: http://www.nationalmerit.org/

College-Sponsored Merit Scholarships

The finalists for the college-sponsored merit scholarships plan to attend their sponsor college and inform the National Merit Scholarship Corporation (NMSC). The monetary value is in the form of stipends that range from $500-$2,000 and are renewable for four years of study at the college.

To view a list of colleges offering scholarships, see the PSAT/NMSQT Official Student Guide: National Merit® Scholarship Program on the National Merit Scholarship Corporation website: http://www.nationalmerit.org/

The entire process of the National Merit Scholarship PSAT test is a lengthy process and takes almost a year to complete in some cases, which means that you must take the test early when in high school. Most students appear for the test in their junior or sophomore year to allow enough time to apply for scholarships as well as to prepare for the final SAT test. However, you need to check your eligibility for applying for scholarships before appearing for the National Merit Scholarship PSAT test. For example, if you have four years of school remaining, you should not appear the PSAT 2011 because you will not be eligible for the 2013 scholarship.

It is always best to research and find out information about the category of scholarships that would work best for you. It is essential that you collect as much information as possible before you appear for the National Merit Scholarship PSAT test. The National Merit Scholarship PSAT test provides the best opportunity to avail these scholarships, which is why you must attempt your best.




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