My opinion is that this is generally not accurate for a meets full need school, and that goes double for a school as competitive as Penn, which is what OP is asking about. For these schools, the numbers reported on financial aid forms get run through the same school algorithm, no matter which application process the applicant has chosen.
If you have factual evidence that goes against my opinion, please provide a link. I’m not asking about what may have happened to your cousin’s best friend’s son.