Yes, double or triple or whatever the max EFC can be. FAFSA Does not count primary home equity, a non custodial parent’s finances or certain business holdings or transactions. Those can add up to a lot. FAFSA has some crazy loopholes where a kid can be eligible for PELL yet have a billionaire parent.
Though colleges can make claims of meeting full aid, and I have seen some reputable colleges be very vague in guaranteeing financial aid, the common data has certain standards as to what constitutes aid. Only subsidized student loans count. Parent loans do not.