Host: What do schools look at to determine if they will award need-based financial aid? Andrew Battaile: Schools that grant need-based financial aid will require the parents to submit documentation showing that the family is in need. Often, this will include your salary, it will also include your W-2 forms, your taxes, as well as any assets that you have. Expect that you are going to have to provide this to a school if you are asking for financial assistance.