The prize money is:

• 1st $5,000
• 2nd $3,000
• 3rd $1,000
• Audience prize of $1,000

The winner will be offered piano recitals in

Fayetteville
New York
Los Angeles
Miami
London
Hamburg
Munich
Berlin

in association with Steinway & Sons.

The 9 semifinalists not selected for the final round will each receive an honorarium of $350.

The Jury judges the semi finals by a double tier system: 3 degrees (Yes, No, and Undecided) and 10.0 points (added highest = best). If the 3 degree procedure doesn't yield a clear result, the 10.0 point procedure is activated. The finals are voted by a placement system (putting 1, 2, 3 in order) and the audience vote will count as one of four votes towards the order of the three laureates. The non-voting chair of the Jury can break a tie.

All eligible semifinalists will be offered $12,000 in undergraduate scholarships or graduate assistantships at the Fulbright College of the University of Arkansas.