How close are you? If the EFC is close, worthwhile to apply for aid. The estimators are just that, estimators. However, unfortunately, PROFILE schools likely to come up with even a higher EFC when you file the real thing because if you file a Schedule C with your taxes, depreciation and expenses are often added back into income.
I would split the application process into two camps : file for fin aid in one, and not the other, matching up the schools. For those schools that are out and out need aware, and your students stats are not in the upper echelon, do consider how much it’s worth to you that Your students gets accepted with no aid. One of my kids was accepted to such schools as full pay, no fin aid apps, even though he was in the lowest quartile in test score or used Fairtest privileges and did not submit a test score. His cousin who was in the middle 50% of the applicant pool at the very same schools, but applied for aid, was roundly rejected.