@pickpocket - I agree, mostly. However, for my DS, being named NMF can mean a lot of money, at some top schools. From his application list:
Vanderbilt (ranked #14) gives NMF $5000/year
Univ of Florida (ranked #35) - NMF receive full COA scholarships through the state’s Benacquisto program
FSU (ranked #70) - same as Univ of Florida
Clemson (ranked #66) - $5500 on top of whatever other merit scholarship is offered
Auburn - $4000 (or more, based on need) on top of the Presidential Scholarship ($72000) that he was already offered.
Then there are several schools for which there would be no benefit, as you said. My point is that there’s at least one top 20 (haven’t checked them all) that offers money and several that offer money on top of other scholarships. For us, though, living in Florida, where UF is likely his first choice, NMF is HUGE! (BTW, in case anyone didn’t know, the Benacquisto scholarship was extended to include OOS students beginning last year.)