Very low income kids do NOT necessarily know the outcome except maybe at schools that are no-loan (which is very few).
I was a pell-eligible kid. I applied to selective LAC’s that met full need. Every single one that accepted me offered a package that would have made it possible for me to go. But t here were small differences in net prices, and pretty significant differences in how big the loan portions of the packages were. I picked the cheapest, lowest-loan option.
Now, the differences in net price were amounts that I would consider irrelevant at my current income level (maybe $1000). But to a lower-income family like the one I grew up in, those differences mattered. My parents were very committed to my education and would have paid the higher amount if that had been the only option. And if I had applied to ED and the offer had been at that amount, that’s what they would have done. But it was much better for us to be able to look at all the offers and say “Hey, this might not have been my absolute top choice but it’s a great option and will cost less and leave me with less debt at the end.”