First of all here is the timeline:
October of junior year: Take the PSAT/NMSQT and check Hispanic/Latino on your answer sheet.
February–March: NHRP invites eligible students to apply online.
Spring: Work with your school to submit a form confirming your ethnicity and your cumulative GPA.
June 15: Application deadline.
September of senior year: NHRP notifies recognized students.
If we ignore financial aid/scholarships - does this designation help in getting admission at the top schools. I am thinking Ivy League and almost Ivy League (Illinois @ Urbana Champaign, Michigan, Northwestern, Chicago, etc.)???
Exemplary students are selected to receive University merit scholarships on the basis of outstanding academic achievement (including recognition as a National Merit Finalist or through the National Hispanic Recognition Program), extracurricular achievement, demonstrated leadership, and commitment to their communities. Merit awards are determined by committee on the basis of the application for admission without consideration of financial need. They are guaranteed for four years of undergraduate study or offer funding for summer opportunities.
All first-year applicants are automatically considered for merit scholarships; no additional merit scholarship application is required.