Acutally the methodology is to set cutoff so in each state 1% of all HS juniors reach NMSF status. Now if you’re in a mid-west state (like NE) maybe only 25% of HS juniors take the PSAT since most others take the ACT equivalent (or neither). Thus you only need to be in the top 4% to reach NMSF status. There’s really nothing “National” about NMF, it’s state by state.</p>
<p>Now of course ex-post-facto since my S isn’t NMF, I’ll say the rewards for NMF can be excessive (free ride to some schools)… given that some people with as low as a 202 on PSAT can be NMF.</p>
<p>to make NMSF, the student’s PSAT is about the top 1% of those who took the PSAT in that state. I didn’t say top 1% of the nation. I am VERY aware of the NMSF /NMF process. </p>
<p>*Now of course ex-post-facto since my S isn’t NMF, I’ll say the rewards for NMF can be excessive (free ride to some schools)… given that some people with as low as a 202 on PSAT can be NMF. *</p>
<p>My older son was a NMF and did accept a big scholarship. </p>
<p>My younger son just missed the cutoff and would have been a NMF if we lived in a bunch of other states. He was awarded one of the special National Merit scholarships and a very large scholarship from his college for his SAT/ACT scores, so in the end, the difference in his scholarship amounts and my older son’s is about $4k per year. No big deal. A high scoring kid who didn’t make NMF in his state can still grab some big bucks IF that is desired.</p>
You may not aware but the PSAT is NOT to the top 1% of those who took the test in that state. The cutoff is set so that 1% of the TOTAL juniors in that state get NMSF status. So if only 10% of the juniors take PSAT, the top 10% of the PSAT takers get NMSF so that it results in 1% of total juniors getting NMSF. That’s why there’s such a wide range of cutoff thresholds. Some states (especially ACT centric ones) a much lower percentage of juniors take the PSAT while in some state (like MA) near 100% take the PSAT.</p>
<p>OP–this advice, from those of us who are going through the financial battles right now, is pretty solid. I assume you’re starting to see that your income level is in that ‘sour’ sweet area where you can’t really afford top schools for full freight, and don’t qualify for need-based merit aid. Welcome to middle-to-upper-middle class college parents reality check 2011!</p>
<p>Read here on CC, keep your kid in the game as far as educating him financially to the costs. I assure you, most of it won’t sink in but eventually it will. I can’t imagine the climate will improve over the next couple years either, so start working with his mindset as far as potential schools. State schools, privates that offer good merit aid, etc., should be in the crosshairs. Hammering down on the ACT with practice tests, maybe even a prep class is always worth it–every point over 30 translates to money in the bank down the line.</p>
<p>Don’t break the bank for an undergraduate education!</p>
<p>Thanks so much…all of you. Such a vast amount of information and good advice. I talked to my son tonight about it and he seems to grasp the idea of going to a school that will offer merit awards for undergrad so he can afford to go to law school. It’s hard to watch our friends kids go to Yale and Univ of Chicago with same stats as my son and know we couldn’t afford it. Really, they make less, so qualify for financial aid. But no medical costs there so we have about the same standard fo living. Not whining, I am fortunate to have a decent income to cover our autistic son’s needs. He will likely be living with us throughout his life, so it’s not going away.
Ahhh…middle class living…not poor enough and not rich enough.
Although my husband has a live audition to be the new voice of the Aflac duck tomorrow in Chicago, so maybe our money worries are over. LOL!!!</p>