Congrats to your DS on the great score.
Yes, it seems ridiculous, but September is when NMSF are announced. There is no official cutoff announcement, but folks figure it out from which kids made it and which didn't when the NMSF list is issued. Plenty of discussion on College Confidential. I think significantly more kids took the test this year too, and the number of NMSF will remain at 16,000, so that makes things even more difficult to predict (in addition to the new,wacky scoring of the PSAT). I am glad middle kid is a 2016, then the youngest is 2022 (we'll figure out the scoring by then).
And don't stress about it too much. If the kid doesn't choose a school with a great NMSF/NMF scholarship, it doesn't mean that much - nice to put on the college apps but not a huge boost to applications at top schools.
I'm sure he'll do well on the SAT - tell him to concentrate on the GPA. In the past, usually one C on the transcript makes it from NMSF to NMF, but 2 or more Cs often does not. There are some good discussions on College Confidential about high SAT scores and lowish GPAs - there was one a year or so ago about a kid with a 2100 and a 2.5, and he got into a number of colleges, and I think he got some merit aid.