The National Merit Scholarship Program is an academic competition for high school students in the United States. Each year, about 1.6 million high school juniors enter the competition by taking the Preliminary SAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT). Of those students, about 16,000 are named National Merit Semifinalists. To become a Semifinalist, a student must score in the top 1% of all PSAT/NMSQT test takers in their state. National Merit Semifinalists are then eligible to apply for a National Merit Scholarship. About 7,600 Semifinalists are named National Merit Finalists, and about half of those Finalists receive a National Merit Scholarship.
National Merit Scholarships are some of the most prestigious scholarships in the United States. They are awarded to students who demonstrate exceptional academic achievement and promise. National Merit Scholars receive a scholarship of $2,500 per year for four years of college. The National Merit Scholarship Program is funded by a consortium of colleges and universities, as well as by corporations and individuals. The program has been in operation since 1955, and it has awarded over $3 billion in scholarships to more than 340,000 students.
