Some colleges will give full scholarships for perfect PSAT scores. Several will grant a smaller amount of money for a perfect PSAT score. Some colleges do not supply merit aid based on test scores at all. It varies between colleges. A perfect score on the PSAT will mean the student will at least be a "National Merit Commended" scholar. Children do not have to be PERFECT in order to be commended. At the same time, there is no set score that will ensure they move beyond Commended Scholar to National Merit Semi-Finalist. The requirements to move on vary year by year. Getting a perfect PSAT score means that the child is smart - but does not tell you exactly how smart they are. It means colleges may supply them merit scholarships - but not exactly how much scholarship money. A perfect score on the PSAT will mean that the student has a special achievement (like National Merit Commended Scholar, or National Merit Scholarship. )#) Some colleges will award merit scholarships for that. But a perfect PSAT score will also usually mean a good SAT score, so those are tied together.
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But the PSAT is not the only test tied to scholarships. The SAT is also closely correlated to scholarship money. A perfect score on the SAT test may have nothing to do with whether or not you are a chosen as a National Merit Scholar. But that perfect score can give great financial aid in terms of merit scholarships. Very high PSAT scores are very difficult to achieve. If a college only gives merit scholarships for near perfect PSATs, then perhaps they do not have very much money to give away. You may have better luck with financial aid if you choose another college that has multiple opportunities for merit scholarships - something that does not require perfection. I would look for other colleges that offer scholarships for other test scores. Do not invest a lot of time in looking at a college that will ONLY give merit aid to near perfect PSAT. Look at schools that give scholarships based on other factors as well, and perhaps give more than the usual merit scholarships to a near perfect PSAT. Here is the take-away: study for the PSAT and SAT. Studying for those tests can save you a truckload of money on college. The amount of money may vary from college to college, depending on scores. But the overall message is simple: Study for the PSAT and SAT.
Ref: http://www.articlesbase.com/homeschooling-articles/the-most-perfect-psat-and-sat-scores-for-gaining-college-scholarships-5538520.html