Financial Need Scholarships - How to score
Hi! We have a portfolio of 47 scholarships we oversee, and half of them have criteria where the student must demonstrate financial need. We ask them for their household income, number of household dependents, what other financial aid they are receiving, and if there are any extenuating circumstances to their financial situation.
My question is: what are some ways other foundations use to score/evaluate/compare financial need among different applicants? We have a rubric where we leave it up to a judgement call from the evaluator to say if the student has low financial need (3 points), medium (6 points), or high financial need (9 points). But that is for every scholarship, even the ones that don't require financial need. Should we put higher weighted scores for the financial need scholarships? Are there other ways to evaluate this? Are there better questions to ask of the students or the evaluators? Thanks for your input!