- based ▁financial ▁aid . ▁ ▁If ▁a ▁student ▁has ▁a ▁high ▁S AT ▁score ▁and ▁a ▁low ▁family ▁income , ▁they ▁will ▁receive ▁larger ▁institution al ▁need - based ▁gr ants ▁than ▁a ▁student ▁with ▁a ▁low ▁family ▁income ▁that ▁has ▁low ▁S AT ▁scores . ▁ ▁In ▁ 1 9 9 6 , ▁public ▁higher ▁education ▁institutions ▁gave ▁students ▁with ▁high ▁S AT ▁scores ▁and ▁a ▁low ▁family ▁income ▁$ 1 , 2 5 5 ▁in ▁need - based ▁gr ants . ▁ ▁However , ▁only ▁$ 5 6 5 ▁in ▁need - based ▁gr ants ▁were ▁given ▁to ▁students ▁with ▁low ▁S AT ▁scores ▁who ▁had ▁low ▁family ▁in comes . ▁ ▁The ▁lower ▁a ▁student ' s ▁S AT ▁score , ▁the ▁smaller ▁the ▁amount ▁of ▁need - based ▁gr ants ▁a ▁student ▁received ▁no ▁matter ▁what ▁their ▁family ▁income ▁level ▁was . ▁The ▁same ▁tr end ▁holds ▁true ▁for ▁higher ▁education ▁private ▁institutions . ▁ ▁In ▁ 1 9 9 6 , ▁private ▁institutions ▁gave ▁students ▁with ▁high ▁S AT ▁scores ▁and ▁a ▁low ▁family ▁income ▁$ 7 , 1 2 3 ▁versus ▁$ 2 , 3 8 2 ▁for ▁students ▁with ▁low ▁S AT ▁scores ▁and ▁a ▁low ▁family ▁income . ▁ ▁Thus , ▁“ inst itution al ▁need - based ▁awards ▁are ▁less ▁sensitive ▁to ▁need ▁and ▁more ▁sensitive ▁to ▁‘ ac ade mic ▁mer it ’ ▁than ▁the ▁principles ▁of ▁needs ▁analysis ▁would ▁lead ▁us ▁to ▁expect .” ▁ ▁It ▁has ▁been ▁found ▁that ▁increasing