I will only tell students the facts: You will not be considered independent unless you meet the requirements to be independent. You MIGHT be able to get a dependency override based on your individual situation - based on facts as documented at the time you apply to colleges - and you must get the override again every year, based on the facts as documented each year. There is no way to know whether or not a particular school will give a dependency override … one school may say yes and another may so no, given the exact same set of facts. And if you are granted an override, you may not be eligible for much (at the most, perhaps a Pell grant, SEOG, loans at the independent level for year in school, and maybe some institutional grant money). Generally speaking, the amount will not be enough to cover the cost of tuition,fees, room & board.
I would never instruct a student that they should or should not come out. That is an individual decision. However, I do STRONGLY suggest that students should seek counseling in OP’s situation. The decision whether or not to come out should be made based on what is best for the individual, and professional assistance in making this determination is encouraged.
I do not believe that this decision should be made based on what someone thinks it would net in terms of increased (or decreased) financial aid. Once the decision is made, the questions about how financial aid comes into play will follow.