Seems like a clever & much needed law in light of the abuse by wealthy families of the need based financial aid system.
Of course, privacy rights of those not in need of financial aid should be protected.
Hopefully, an affidavit attesting to the family’s current ability to afford school COA without financial aid should be permitted in lieu of the intrusive FAFSA. (Necessary in order to assure that needy families file FAFSA.)