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[quote=Anonymous][quote=Anonymous]Question for anyone who knows:

If a family of 4 currently has a low income but a large stock portfolio abroad (a family brokerage account, not retirement account, in a parent's name and has been reported to the IRS for years), they're not eligible for aid, right?

This is our situation.[/quote]

This lays out how the expected family contribution is figured: https://fsapartners.ed.gov/sites/default/files/2021-08/2223EFCFormulaGuide.pdf

Federal aid is restricted to Pell grants which are for very low income and low assets and federal student loans.  But the FAFSA also calculates your expected family contribution (EFC) which goes with you to schools as they calculate your financial aid package.
Parental income (based on Prior, prior year--so income 2 years prior) matters most, assets next. Students' income and assets also matter (as does any money in their siblings' names).  Some schools also use the CSS profile which can go deeper into your assets including retirement, primary house, income history etc.   They then make a determination of aid to 'cover the gap' (if any) between your EFC and the total cost of attendance at the school.  Not all schools will cover this gap, and most will include student loans and parent loans as part of 'covering that gap.'

So it's impossible for someone to easily answer if you are 'eligible for aid' without knowing the cost of school you are attending, size of the portfolio, income level etc.   Basically the answer is if you really could afford to pay for the school without aid you're not likely to get much or any--except for some loans.  And if you really can't afford to pay for the school you still might not get it--except for some loans.
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