New reporting indicates merit aid is increasingly outpacing need-based aid across institutions, and is being used as an enrollment strategy to attract wealthier students. The analysis suggests high-income students receive slightly more aid on average than low-income peers, which could widen net price gaps even where sticker tuition remains stable. The findings raise questions for college affordability, financial aid design, and how institutions balance recruiting goals with socioeconomic accessibility. For financial aid administrators, the shift can also change packaging decisions, targeted scholarship budgets, and outcomes tracking. As affordability pressures intensify, the debate is likely to intensify over whether merit-first strategies improve enrollment stability or instead undercut broader equity goals—especially for students with demonstrated financial need.