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NYU joins others in exiting National Merit scholarships

By Janet Lorin
Bloomberg News / October 23, 2011

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New York University has pulled out of the National Merit scholarships, becoming at least the ninth school to stop funding one of the largest U.S. merit-based aid programs, because it doesn’t want to reward students based on a standardized test. The National Merit Scholarship Corp. distributed more than $50 million to students in the 2009-2010 year based on the PSAT college entry practice exam. Most of the money comes from almost 200 colleges, including Northwestern University and University of Chicago, to fund awards of as much as $8,000 over four years.

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