Absolutely. No doubt about it. But that is the moral hazard of using Fafsa only – some/many immigrants at the top UC’s have family wealth (held offshore). My son’s best friend from HS lived in the nice gated community part of town, and officially, his dad did not ‘work’ and had not since he was in his mid-30s.
When he applied to UC, he marked, ‘unemployed’ or something similar on the app.