I've been thinking about it. Pell Grant dollars come from the federal, not state, government. I wouldn't be that surprised if schools (including Illinois) made use of them to show that they were letting in a certain amount of low-income and first generation students since those two things usually go hand-in-hand. It might not have a negative impact on P5 schools, but it likely will change how they do their accounting.
It's a gray area schools may operate in to boost their stats and show that they're putting federal money to good use.
I doubt this means a player like Cockburn or Curbelo ever has to pay their tuition, but it could force changes in the financial aid department.