<p>Hey =)</p>
<p>When colleges give out scholarship to students along with the acceptance, is that based on financially or academically?
The reason I ask is my family's annual income decreased significantly from 80000 to 20000. So should I explain how I'm short on money?</p>
<p>Thank you for your help =)</p>
<p>It depends on the scholarships. Look at the school’s financial aid and merit scholarship info on its website. Usually to get need-based financial aid, one has to file a FAFSA and/or other forms that provide info from your family’s income tax documents, letting the college know about your family’s income and assets.</p>