If the particular student you have in mind is likely to be a National Merit contender, take a look at those threads. There are still plenty of universities with very preferential treatment as well as huge scholarships. They are not going to be the most prestigious overall but many have excellent honors colleges.
I have seen enough students with perfect test scores and near-perfect grades, with tons of rigor, get spurned by the top-20 universities and LACs. Lesser stats have even less chance. Unless s/he’s an athlete or first-generation or Intel finalist or underrepresented minority, cast the net wide and love your safeties. There are many more excellent schools than you think.