[j7ake]

Can’t this be taken into account by also considering wealth and assets, rather than by only income?

[otoburb]

FAFSA seems to have been updated in recent years to evaluate not only income, but also wealth[1] (minus retirement accounts), including most types of US trusts[2].

[1] https://studentaid.gov/help-center/answers/article/fafsa-que...

[2] https://mcandrewslaw.com/publications-and-presentations/arti...