UCLA blue and gold chancellors scholarship?

I was wondering if anyone had heard about the chancellors blue and gold scholarship, is this given to just about everyone in financial need?

How do you guys feel about it?

Blue and Gold is awarded to all students whose families make ≤$80,000 a year. Two years for transfer students, 4 for those who got in as freshman.

As for how I feel about it, well, it’s a good thing and should be expanded if possible.