My son has average SAT scores, but is ranked #2 in his high school class. I have come across a couple colleges that offer merit scholarships just for valedictorians and/or salutatorians: Olivet College and Susquehanna University.
Savannah College of Art and Design offers a scholarship for Salutatorians and Valedictorians as well =) Good luck to you and your son this school year ,and those that follow =)
