@gruebleen assets can play a part…but without knowing this student’s family income…it’s hard to say. It very well could be that he doesn’t qualify for need based aid…anyway.
@TheDoge the student would have issues if he received need based aid when he knowingly put false info on the FAFSA.
This could result in him having to pay back any aid he wrongly received. He could be fined. Most likely he won’t end up in jail. But lying on the FAFSA is considered fraud. Perhaps the parents should look up “fraud” in a dictionary.