In 2014 we were in the $150,000 income range. My son received the usual federal loans, work-study and a grant of around $22,000. HOWEVER, I also have two in college which makes a big difference in the financial aid calculations. This year my income will be much lower (still good but around $100,000) but my daughter is graduating from college. So I expect my sons grant to drop to around $15,000 (hopefully) plus he may still get the loans and work-study. He does not have a merit scholarship.
The issue you will run into is that your merit scholarship won’t necessarily stack with a need-based grant. Others on this forum can provide more insight on this issue than I can.