If my parents’ combined income is just short of 70k but with a household of 7 people, are my chances of becoming a finalist significantly less than applicants with, say, a 30k income?
I don’t think so! They state that while most applicants have an income under 60k, that’s just a guideline and not a rule. Most applicants do not have 7 people in their family, so it is understandable that your income is higher than average. They will be able to see how many people are in your family and will understand that 70k for you is different from 70k for a family of 3.