(Updated 2021) The National Merit Scholarship Program seems like a great opportunity for test savvy high school students and their families to make a substantial dent in college costs. Well, it really all depends. Much to the surprise of many families, being a National Merit Finalist doesn’t mean a full-ride scholarship to the college of your choice.
Different Types of National Merit Scholarships
There are three types of National Merit Scholarships. There is the one-time $2,500 awarded by the National Merit Scholarship Corporation to approximately 7,600 scholars. Corporations sponsor another 1,000 scholarships, mainly for children of employees but also for students living in certain areas or pursuing specific majors. These may or may not be renewable and range in value from $500 to $10,000.
The third type of scholarship is generally the most valuable–those sponsored by colleges. These scholarships may be only one time awards of only $2,500. However, many of them are renewable awards for much more and the most valuable offer the coveted “free ride.” (Looking for free ride scholarships, try here. I get a share of any purchases.)
Most Colleges Don’t Provide National Merit Scholarships
The problem is that these schools are generally not the same schools everyone wants to attend. In fact, very few of the most competitive colleges and universities sponsor National Merit Scholarships. That doesn’t mean these schools don’t have National Merit Scholars. In 2019, Stanford enrolled 124, Harvard 207, and MIT 134. None of these students received National Merit Scholarships to attend these schools. These schools just don’t have to offer money as an incentive to attend.
And for those competitive colleges that do such as the University of Chicago, Carleton College, and Vanderbilt University, the amounts tend to be small relative to the actual cost of attendance.
Colleges with Incentives to Provide National Merit Scholarships
If you want to get the most out of being a National Merit Scholar, target a 50-50 school. These are schools that accept at least 50% of students and have at least a 50% graduation rate. Out of over 160 schools sponsoring National Merit Scholarships, 99 of them are 50-50 schools.
This isn’t surprising since many of these colleges are interested in developing a national reputation. Colleges haven’t been shy about publicizing the number of National Merit Scholars attending their institutions. They are also more likely to provide scholarships that significantly reduce tuition costs while being renewable. Some colleges include yearly stipends or funds for study abroad programs.
The University of Oklahoma waives 100% of tuition for out-of-state National Merit Scholars for five years. Students can also use the waiver toward any graduate or professional program if any funds remain after completing their undergraduate degrees.
If you’re willing to attend a less prestigious college, being a National Merit Scholar could result in an actual “free ride” to college.
The table below lists 50-50 colleges for National Merit Scholars. All expect to sponsor National Merit Scholarships this past year.
50-50 Colleges for National Merit Scholars
Name | Type | State | Full-time Under-graduate | % Freshman Receiving Institutional Grants (18-19) | Avg Net Price 2018-2019 |
Auburn University | Public | AL | 22,626 | 61 | $23,562 |
Samford University | Private | AL | 3,519 | 99 | $30,695 |
The University of Alabama | Public | AL | 29,188 | 56 | $20,623 |
University of Alabama at Birmingham | Public | AL | 10,377 | 78 | $17,068 |
Arizona State University-Tempe | Public | AZ | 41,349 | 94 | $14,081 |
University of Arizona | Public | AZ | 28,993 | 87 | $16,580 |
Hendrix College | Private | AR | 1,098 | 100 | $20,859 |
Ouachita Baptist University | Private | AR | 1,502 | 98 | $19,962 |
University of Arkansas | Public | AR | 20,492 | 39 | $16,263 |
Santa Clara University | Private | CA | 5,580 | 63 | $42,114 |
Colorado State University-Fort Collins | Public | CO | 22,179 | 56 | $16,793 |
New College of Florida | Public | FL | 702 | 99 | $11,028 |
University of Idaho | Public | ID | 6,762 | 90 | $15,017 |
Bradley University | Private | IL | 4,497 | 100 | $26,791 |
Illinois Wesleyan University | Private | IL | 1,613 | 99 | $28,912 |
Loyola University Chicago | Private | IL | 11,628 | 98 | $36,388 |
Wheaton College | Private | IL | 2,323 | 87 | $28,795 |
Butler University | Private | IN | 4,498 | 93 | $39,923 |
DePauw University | Private | IN | 1,952 | 99 | $29,557 |
Goshen College | Private | IN | 752 | 100 | $19,772 |
Indiana University-Bloomington | Public | IN | 32,091 | 71 | $13,036 |
Purdue University-Main Campus | Public | IN | 32,520 | 43 | $12,684 |
Rose-Hulman Institute of Technology | Private | IN | 1,980 | 99 | $45,356 |
University of Evansville | Private | IN | 1,827 | 100 | $21,978 |
Valparaiso University | Private | IN | 2,932 | 99 | $21,824 |
Drake University | Private | IA | 2,836 | 100 | $30,265 |
Iowa State University | Public | IA | 26,596 | 79 | $15,195 |
Luther College | Private | IA | 1,931 | 100 | $23,805 |
University of Iowa | Public | IA | 21,134 | 57 | $17,008 |
Kansas State University | Public | KS | 15,489 | 77 | $18,103 |
University of Kansas | Public | KS | 17,307 | 73 | $19,195 |
Centre College | Private | KY | 1,411 | 100 | $24,226 |
University of Kentucky | Public | KY | 20,679 | 77 | $18,958 |
University of Louisville | Public | KY | 11,578 | 80 | $17,490 |
Louisiana State University and Agricultural & Mechanical College | Public | LA | 22,727 | 75 | $18,143 |
Louisiana Tech University | Public | LA | 8,128 | 81 | $12,261 |
University of Maine | Public | ME | 8,016 | 99 | $18,002 |
Gordon College | Private | MA | 1,447 | 96 | $29,047 |
Calvin College | Private | MI | 3,224 | 100 | $27,952 |
Hope College | Private | MI | 2,903 | 95 | $29,248 |
Kalamazoo College | Private | MI | 1,273 | 98 | $26,480 |
Michigan State University | Public | MI | 35,650 | 48 | $16,579 |
Michigan Technological University | Public | MI | 5,405 | 93 | $17,814 |
Bethel University | Private | MN | 2,323 | 100 | $26,468 |
Gustavus Adolphus College | Private | MN | 2,215 | 99 | $21,707 |
University of Minnesota-Twin Cities | Public | MN | 29,890 | 59 | $17,279 |
University of St Thomas | Private | MN | 6,164 | 95 | $29,645 |
Mississippi State University | Public | MS | 17,101 | 86 | $16,471 |
University of Mississippi | Public | MS | 15,950 | 63 | $14,672 |
Missouri University of Science and Technology | Public | MO | 5,680 | 81 | $13,954 |
Saint Louis University | Private | MO | 6,666 | 97 | $31,098 |
Truman State University | Public | MO | 4,248 | 99 | $12,912 |
University of Missouri-Columbia | Public | MO | 20,782 | 77 | $15,850 |
Montana State University | Public | MT | 12,398 | 71 | $16,746 |
Creighton University | Private | NE | 4,338 | 99 | $32,145 |
University of Nebraska-Lincoln | Public | NE | 19,045 | 82 | $17,093 |
University of Nevada-Reno | Public | NV | 14,702 | 50 | $16,253 |
Rutgers University-New Brunswick | Public | NJ | 34,350 | 40 | $16,873 |
Ithaca College | Private | NY | 5,735 | 95 | $34,942 |
North Dakota State University-Main Campus | Public | ND | 9,640 | 44 | $16,330 |
University of North Dakota | Public | ND | 7,622 | 66 | $15,654 |
Miami University-Oxford | Public | OH | 16,729 | 70 | $22,989 |
Ohio University-Main Campus | Public | OH | 16,162 | 81 | $22,521 |
The College of Wooster | Private | OH | 1,942 | 99 | $28,209 |
University of Cincinnati-Main Campus | Public | OH | 23,836 | 56 | $19,219 |
University of Dayton | Private | OH | 8,059 | 95 | $33,372 |
Oklahoma State University | Public | OK | 17,235 | 80 | $15,325 |
University of Oklahoma | Public | OK | 18,938 | 86 | $21,804 |
Lewis & Clark College | Private | OR | 1,896 | 94 | $36,026 |
Oregon State University | Public | OR | 18,635 | 72 | $19,273 |
University of Oregon | Public | OR | 17,377 | 59 | $16,080 |
Willamette University | Private | OR | 1,559 | 100 | $36,223 |
Pennsylvania State University-Main Campus | Public | PA | 66,206 | 43 | $24,724 |
University of Pittsburgh | Public | PA | 18,474 | 47 | $22,600 |
Clemson University | Public | SC | 19,387 | 75 | $21,482 |
College of Charleston | Public | SC | 8,736 | 55 | $19,764 |
Furman | Private | SC | 2,607 | 91 | $35,621 |
University of South Carolina-Columbia | Public | SC | 26,402 | 68 | $21,787 |
Wofford College | Private | SC | 1,703 | 95 | $28,033 |
Belmont University | Private | TN | 6,547 | 88 | $36,976 |
Tennessee Technological University | Public | TN | 7,972 | 48 | $16,634 |
The University of Tennessee-Knoxville | Public | TN | 22,126 | 54 | $21,024 |
Southwestern University | Private | TX | 1,496 | 100 | $27,757 |
Texas A & M University | Public | TX | 47,874 | 55 | $19,237 |
Texas Tech University | Public | TX | 27,949 | 52 | $16,463 |
The University of Texas at Dallas | Public | TX | 17,847 | 67 | $10,455 |
University of Houston | Public | TX | 28,176 | 60 | $13,212 |
University of North Texas | Public | TX | 26,049 | 50 | $14,020 |
University of Utah | Public | UT | 18,609 | 70 | $13,739 |
Virginia Commonwealth University | Public | VA | 19,868 | 60 | $20,968 |
University of Puget Sound | Private | WA | 2,276 | 99 | $39,011 |
Washington State University | Public | WA | 23,195 | 74 | $18,002 |
Western Washington University | Public | WA | 13,868 | 71 | $17,728 |
Whitman College | Private | WA | 1,532 | 86 | $41,822 |
West Virginia University | Public | WV | 19,399 | 76 | $12,743 |
Lawrence University | Private | WI | 1,399 | 100 | $26,162 |
Marquette University | Private | WI | 8,174 | 100 | $34,120 |
University of Wisconsin-Madison | Public | WI | 30,131 | 34 | $16,103 |
University of Wyoming | Public | WY | 8,336 | 72 | $12,880 |

Here are a couple lists of schools offering the most generous National Merit Scholarships:
http://thecollegematchmaker.com/52-colleges-offering-full-tuition-scholarships-national-merit-finalists/
http://nmfscholarships.yolasite.com/
Hello all,
I am new here, how do I download the “listing of all colleges offering National Merit Scholarships”?
Do I need to pay?
Thanks
Hi, you just need to subscribe to the newsletter. It comes out weekly and has links to all the lists.
Michelle