There's really no harm in taking the PSAT, except maybe the effort and the price of taking it. Other than that, it's all benefits especially if your child qualifies for a scholarship! See it as an investment and as a way to prepare for the actual SAT instead. There's actually an article from Exam Cave answering your question with a similar article title "Does the PSAT matter". You might wanna check that out if you need more input. Good luck!