I received the equivalent award in the humanities and it's not that big of a deal. It's good if you plan on applying to University of Rochester (which is a great school, although it doesn't have the popular name recognition as the others, it's well known in the academic community), as it qualifies you for a scholarship (I don't know anyone who got the award and didn't get the scholarship). I left it on my resume for all the schools I applied to, I got in everywhere but I would not attribute it to the award.
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