A new Century Foundation analysis found state and institutional grant aid disproportionately benefits high‑income students, with merit-based programs and selective public colleges capturing large shares. The report says more than half of students in the top income quartile receive grants that exceed their financial need, while students in the bottom quartile rarely receive such windfalls. Policy authors warn this allocation undermines affordability goals and widens equity gaps, urging states to reprioritize need-based funding. Financial-aid officers and state policymakers face pressure to redesign grant formulas to target low-income learners.