The purpose of this study was to identify factors that influenced the college choice process for high-achieving, low-income African American students, and to understand the effect of the Gates Millennium Scholarship on their college choice. Drawing from the Gates Millennium Scholar Tracking Database, a College Choice Survey, and the Integrated Postsecondary Education Data System, 231 high-achieving, low-income African American students who were selected as part of the 2012 cohort of Gates Millennium Scholars were surveyed. Data revealed the role of financial aid and college costs in the college choice process, and that being selected as a Gates Millennium Scholars enabled students to choose colleges that were more prestigious and institutions with more academic offerings. Implications research, policy, and practice are presented in the summary of the article.