Do you know when schools will have benchmarks for the new SAT for their competitive academic scholarships?
My best guess would be that the updating of benchmarks will happen sometime over summer 2016. Currently, many of the competitive academic scholarships that rely on SAT scores only consider Critical Math and Reading scores in any case, which means that their score benchmarks are already out of 1600. I think that many of these schools are simply going to switch from requiring Critical Reading + Math scores to requiring your total SAT score, since it'll require them to do less math than separating out the "Writing and Language" score from the rest of the SAT (and since the SAT essay is now optional, maybe schools will find the Writing section less objectionable anyway).
I think that summer 2016 is the earliest that this updating will happen, however, because the scores from the first new SAT aren't even slated to be released until May 10th 2016; many colleges are probably waiting to see what the score distributions on the new test look like before making any major alterations to their scholarship policy.