Sophomores and juniors take the PSAT for many reasons, including to assess their ongoing college preparedness, to prepare for the SAT and ACT, and to learn about their potential to succeed in Advanced Placement coursework. The PSAT also enters juniors into the competition for National Merit Scholarship and into consideration for many other scholarships. The PSAT costs $20, and students can pay in the Bookstore, using cash, checks, and credit/debit cards. Families may also designate tax credit funds to cover the costs of the test, and financial assistance is available to families in need.