I’d be in favor of the opposite direction. Common Application for all colleges, sliding scale fees, no limits on number of colleges selected.
Colleges don’t have to accept low-income students if they aren’t qualified or if the college doesn’t have funds to support them, however, low-income students can try their best to apply everywhere.
The only barrier should be willingness.
Re: Low income: Pell eligibility / local free or reduced lunch is a great proxy for this and I don’t see a need for anything else. I’m aware of the folks who somehow manage to make $250k per year with four kids and not save for college, but that’s another thread. (A very judgmental thread.)