The committee that selects the award released a list of 25 names on Thursday.
The Blue Devils, Jayhawks and Tigers each had two players survive the cut, making them the only schools with multiple players still remaining.
McDermott, who earned first-team All-American honors last season, averages 22.6 points per game and shoots 55 percent from the field.
Burke leads undefeated Michigan with 18.2 points and 7.3 assists.
Although it is difficult to argue with any of the selections, a handful of deserving players were snubbed.
Nothing, though, is final. New names can be added to the list while old ones can be removed.
So there will be plenty of chances for surging or overlooked players to work their way into the mix before the end of the regular season.