@BelknapPoint Not when I was in school and not even today.
A good example is the National Merit Finalist. If you do well enough to win this award it is given whether your parents make $10.00 or 10 million. We know someone who won it last year and the parents sold a company for many millions. There are others in this camp. Not many, but there are some for which FA is not a factor. One can look them up on various databases and see the criteria.