Okay, so create a new layer then with the layer selected, select the text tool and set the font to the varsity font then type IN CAPITAL LETTERS your text select a colour of your choice then set the size appropriately.
Then we need to get the magic wand tool and select the middle parts and delete them - leaving the outer line on the text
Step 2: The magic of layers
So what are layers? you might ask, well layers are effectively transparent windows you have on top of your background, each layer has a different element to the picture giving you a full image when composed, layers allow you to edit and add effects ( blurs, distorts, glows ect. ) to a layer at a time instead of adding a full effect to a full image
that said your going to need to duplicate your text layer 2x Then rename one to glow and the other two to text then colour your background black using the paint bucket tool
if you've done all this then move on >>
Step 3: Getting ready to glow!
Now we need to recolour the glow layer, so select the glow layer then the recolour tool (red circle than an arrow pointing to a blue circle) or hit the 'r' key, now select the same blue you used as the text colour to your secondary colour (the droplet tool, right click the text) then your primary colour to a lighter colour of what you chosen originally. Then make your paint brush to a big size and colour the text. You will not see an instant change you need to uncheck the tick boxes next to the two text layers to see a change.
Step 4: Turn it on :P
Now were gonna give it that all important glow so with the glow layer still selected go in to Effects>Blurs> Gaussian blur...
set the blur level to around 12 and hit
then do the same to the bottom text layer but put the blur to around 4 and again hit okay