<p>Let’s assume that you do get some form of financial, not merit aid. You will likely have to go through “verification.” I believe this process is mandated if you receive any federally subsidized grants or loans but in any event you’ll be required to submit your actual tax returns and W-2’s. You will also have to sign a disclosure document that states any assets - like rental equity - that you may have left off the Fafsa. So while there may be strategies to minimize EFC, you have to disclose and provide proof and lying subjects you to penalties under law because federal subsidy is at stake.</p>