Why bother with a PSAT? Junior year is a busy time for high school students: course work is the hardest its ever been, sports schedules become more demanding, adult life and responsibility is looming just around the corner, and the most important exams they'll take in high school will be done as juniors. To add to that juniors are hampered by the ever-present knowledge that come summertime they'll be applying to colleges, and submitting themselves and their accomplishments to judgement and possible rejection. Isn't this enough stress for a student? Yes, it is... So, don't stress while you're taking your PSAT.
Take the PSAT. The PSAT CANNOT hurt a student. It offers students a good approximation of the SAT that they'll be taking in April, and its not far off from an ACT. Students also have a remote possibility of getting scholarships if they score high enough (check out the link below describing how students qualify for the most prestigious scholarship offered by the PSAT; the Nation Merit Scholarship). The odds of getting a scholarship again are remote. Taking the PSAT should be thought of as a step in preparing students for the more important SAT and ACT offered later in the year. It is worth taking, but not anything to lose sleep over.