College-Sponsered National Merit Scholarship Awards - Who Provides What?

Paying for College
5

<p>From the University of Oklahoma website (<a href="http://go2.ou.edu/national_scholars/nonresident.htm%5B/url%5D):"&gt;http://go2.ou.edu/national_scholars/nonresident.htm):&lt;/a&gt;&lt;/p>

<p>
[quote]
The following scholarship package is guaranteed to every non-resident National Merit Finalist who names OU as his/her college of first choice with the National Merit Scholarship Corporation:</p>

<p>Oklahoma Academic Scholars Program - $22,000</p>

<p>$2,750 per semester/$5,500 per year for four years to help offset the
costs of fees, books, room and board
Funded by the Oklahoma State Regents for Higher Education
Funds will be deposited into billing account
Can be used toward any graduate program at OU if funds remain after
completion of undergraduate degree
Must maintain a 3.25 cumulative GPA and be enrolled full-time </p>

<p>Non-Resident Tuition Waiver - (estimated) $41,500</p>

<p>Waives 100% of non-resident tuition
May be used for five years (fall, spring and summer)
Can be used toward any graduate program at OU if funds remain after
completion of undergraduate degree
Must maintain a 2.8 cumulative GPA and be enrolled full-time </p>

<p>Resident Tuition Waiver - $10,000</p>

<p>$1,000 each fall and spring semester/$2,000 per year for five years
(amount exceeding $1,000 will be charged to billing account)
Can be used toward any graduate program at OU if funds remain after
completion of undergraduate degree
Must maintain a 2.8 cumulative GPA and be enrolled full-time </p>

<p>National Merit Cash Stipend - $5,000</p>

<p>National Merit Finalists offered one of three possible awards
Total stipend includes any award funded by National Merit
Paid over a four-year period
Must maintain "good academic standing" </p>

<p>Total - $78,500</p>

<pre><code> If you receive outside scholarships, those awards will be added
to the above $78,500 offer.

[/quote]

</code></pre>

<p>It also includes a $1,500 laptop allowance for your freshman year. I think it leaves you with about $6,000 a year left over, but if you get Pell Grant, or any other type of scholarship (EXCEPT the $2,500 NM scholarship), they will add it to that total. It's a pretty good deal.</p>