Naive to Process of Applying for Financial Aid, please help...

<p>Ok, when you apply for FA, you have to list all your assets right? The cost of your home, the amount of investments and so on.....</p>

<p>My question would be if one's parents both were retired and at face value looked poor with no present income flowing in. On top of that they live in a poverty stricken high violence neighberhood that has evolved since they moved there 30+ plus years ago. Even though they have the money to move, they are so stubborn and disgusted by the thought of changing homes because you grow attached to it..</p>

<p>i know personally alot of people who are in this situation who are worth in fact in the millions in total assets ranging from 1-3 million but maintain their happy living of frugalness like they dont have 2 cents to rub together.</p>

<p>So if there are parents who have alot of " Hidden money" in savings accounts, investments and so on but dont spend money on house, clothes, cars and so on and they have kids who want to go to college, can they not disclose all their hidden assets and when the the FA company examines their situation- 2 non working parents, live in bad neighberhood with a home of low value and so on would grant them FA assistance.</p>

<p>I know its illegal to withold info like this but im just asking. If you fail to mention all your "hidden" assets on the application, would the FA company have the ability to type your name in the computer network and gain access to view all your assets or does the FA company go by what you state as fact on the application?</p>

<p>Please clear this up for me?</p>