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First year students admitted to the Honors College earn a $5,000-per-year academic scholarship which is renewable for four years. Current Penn State students with strong academic and volunteer credentials can apply to the Honors College as sophomores or juniors. These students are not eligible for the $5,000-per-year academic scholarship.
Penn State's freshman retention rate is 92%, with 85% going on to graduate within six years. [76] Pennsylvania State University Park is a college-sponsor of the National Merit Scholarship Program and sponsored five Merit Scholarship awards in 2020.
It administers the grant program for the Commonwealth of Pennsylvania, and serves as a coordinating body for other grant programs administered by other state agencies. It also served as one of several student loan guarantors in the United States for the Federal Family Education Loan Program (FFELP), under the Higher Education Act of 1965. It ...
Merit aid helps lower college costs.When it comes to paying for college, merit aid is one way to close the gap between the cost of attendance and need-based financial aid. 17 Things to Know About ...
The NMSC uses the PSAT/NMSQT as the initial screen of over 1.5 million program entrants. In the spring of the junior year, NMSC determines a national Selection Index qualifying score (critical reading + math + writing skills scores all multiplied by two) for "Commended" recognition, which is calculated each year to yield students at about the 96th percentile (top 50,000 highest scorers).
Scholarships in the U.S. are awarded based upon various criteria, which usually reflect the values and purposes of the donor or founder of the award. Some scholarships for college are merit-based. Merit scholarships might be awarded based on academic achievement or on a combination of academics and a special talent, trait, or interest.