you mentioned that when you plotted score vs income, there was a clear correlation- i was suggesting using this data to normalize the scores.

if trusting teachers is an issue, there are two options.

- polling multiple teachers (hopefully eliminating individual bias)

- polling multiple students.

for polling teachers, you might suggest that each teacher recommend 4 students.

for polling students, you might suggest that each applicant write 2 essays: why they should receive the award, and which of their fellow classmates should as well.

correlating these with exam scores might provide a clearer picture still.