National Merit Scholarship Corporation (NMSC) established the National Achievement® Scholarship Program in 1964, contemporaneously with the passage of the Civil Rights Act, specifically to encourage Black American youth to continue their education. NMSC conducted the privately financed academic competition from 1965 to 2015. The program's defining purposes were to:

• Honor scholastically promising Black American high school students and increase their educational opportunities; and

• Provide National Achievement Scholarships for college undergraduate study to a substantial number of the most outstanding participants in each annual competition.

With the conclusion of the 2015 program, the National Achievement Scholarship Program transitioned to a new program. In 2016, NMSC forged a relationship with UNCF, the nation's largest and most effective minority education organization. After NMSC has met the financial obligations of all National Achievement Scholarships awarded through the 2015 competition, including four-year awards, it will grant the remaining National Achievement Scholarship Program funds to UNCF, which will carry on the name and legacy of the National Achievement Scholarship Program through the newly designed Achievement Capstone Program. The new program, which will be administered by UNCF and underwritten by NMSC, will honor and award financial assistance to high-achieving, underrepresented college graduates.

Since the National Achievement Scholarship Program funds are being redirected to be used for awards for college graduates, Black American high school students no longer have the opportunity to enter the National Achievement Scholarship Program and compete for Achievement Scholarship awards. However, they can still compete for Merit Scholarship® awards when they enter the National Merit® Scholarship Program, and they may be eligible to receive awards from UNCF once they graduate from college.