It is possible that one parent quitting a low paying job may make the household financial situation better if the other parent continues working at a decent paying job, if the parent quitting the low paying job eliminates the cost of hiring others to do things that this parent can now do as a stay-at-home parent. Or if this type of thing is approximately break-even financially, then a small effect on college financial aid may tip it to be slightly favorable.
But obviously, that involves a particular set of conditions, rather than being generalized to any situation of reducing labor income to get more college financial aid, which in most cases is net unfavorable since the college financial aid gained is generally much less than the amount of labor income reduced.