One of the finalist schools, the Denver School of Science and Technology in Colorado, can boast that 100 percent of its class of 2010 has been accepted to 4-year colleges. In Lawndale, California, the Environmental Charter School focuses on learning skills for the "green" economy.
The Obama administration said on its website that it intends to have a Cabinet secretary or other senior official speak at each of the five runner-up schools.
And as for the Kalamazoo students who'll get to see the president on their graduation stage? Xavier Bolden said he and his classmates can't wait.
"I was looking forward to [graduation] before, but now? It adds to the excitement. It truly does," Bolden said. "If President Barack Obama wants to meet me, I'd probably faint."
ABC's Sunlen Miller and John Berman contributed to this report.