* Need-based scholarships: These scholarships are specifically designed to help students from low- and moderate-income families. Your family's income (often measured using the FAFSA or CSS Profile), is a primary factor in determining eligibility and the amount awarded. Higher income generally means less or no need-based aid. The specific income thresholds vary greatly depending on the scholarship provider and their individual criteria.
* Merit-based scholarships: These scholarships are awarded based on academic achievement, talent, or other specific criteria, and typically *don't* directly consider income. While a student from a high-income family can certainly apply and receive a merit-based scholarship, their income itself won't affect their eligibility. However, some merit-based scholarships might have a secondary consideration for financial need, offering a larger award or additional funding to students who demonstrate need in addition to merit.
* Need-blind vs. need-aware colleges: For colleges and universities, the term "need-blind" means they do not consider a student's financial need when making admission decisions. "Need-aware" means they do consider a student's financial need during the admissions process. This indirectly affects scholarships, as need-aware institutions may offer less financial aid to high-income students even if they are otherwise strong candidates.
* Demonstrated need: The process of applying for many scholarships involves documenting your family's income and expenses through forms like the FAFSA or CSS Profile. This demonstrated financial need is often a crucial part of the application, enabling you to show the scholarship committee your level of financial hardship.
* Income verification: Many scholarship providers require income verification as part of the application process. This might involve submitting tax returns or pay stubs to confirm the information provided on your application.
In short: High income generally reduces the likelihood of receiving need-based scholarships, while merit-based scholarships are not directly impacted by income. However, the application process for both often requires disclosing income information. Understanding the specific criteria for each scholarship you apply for is key to maximizing your chances of receiving aid.