Well, frankly the best way to do it would be, you guessed it, socioeconomic status, primarily wealth and income.
Same thing, proportional representation, but based on social classes.
However, how do you do that and how do you prevent it from being gamed? Are universities allowed to ask for paychecks going 10 years back? Asset lists? ZIP codes for where the family lived in the last 10 years? Proof that you've been on the dole?
I feel if you are looking for a grant / scholarship, asking for a bunch of information (like a bank would if you applied for a mortgage) isn't unreasonable.
The US already keeps tabs on socioeconomic status in the form of the IRS and tax laws, so any hidden income/assets would have to answer to that first.
Same thing, proportional representation, but based on social classes.
However, how do you do that and how do you prevent it from being gamed? Are universities allowed to ask for paychecks going 10 years back? Asset lists? ZIP codes for where the family lived in the last 10 years? Proof that you've been on the dole?