OP, there are conflicting opinions because each participating school has different academic criteria.
The income criteria is straightforward. You have to have tax returns handy. The guidelines are here
https://www.pratt.edu/uploads/heop_income_table_guideline_for_2015-2016.pdf
The academic eligibility is much more complicated. This is an opportunity program which means that it has to justify student selection. For the college, it is in their best interest to recruit kids who would do well (if given the support they need). It is not wise for them to take a kid who is so far behind they might flail and drop out/flunk out. At the same time they have to show that the grant money (it is state funded) is warranted instead of regular financial aid bc the student is “inadmissible” by regular standards. So they have to hit it just right.
For D’s school they use benchmarks: SATs; GPA; having sought tutoring, esp for regents classes/exams; first generation college student; prior lack of access to advanced curriculum/underperforming HS. She had the first three, with SATs and GPA just under the average for accepted students.
Think about it. A median SAT for Columbia will look very very different from the one at a less selective school. I have heard that many schools use the bottom quartile (lowest 25%) figures for test scores.
Good that you are a sophomore and thinking about this!