Here are a few thoughts based on my experience as an Ivy graduate, an Ivy parent, and being friends with several Ivy employees.
1) Ivy admissions are need-blind. Ivy financial aid is need-based only. There are no merit-based or talent-based (e.g., athletics) scholarships. Factors like athletics can make a difference for admission, but not financial aid. An Ivy coach told me he could get almost any reasonably qualified student admitted. Professor friends also told me they could tell who some of the athletes were simply by their (subpar) academic performance. But, athletics, musical ability, etc., play no role in financial aid.
2) The Ivies use the standard forms (e.g., FAFSA), but they also use their own proprietary formulas. Those proprietary formulas are usually more generous than the FAFSA.
3) They consider the loans they offer to be financial aid, even though the only real benefit is a possible subsidy. Princeton (and maybe Harvard and/or Yale) has replaced loans with grants. I don't think the others have done so.
4) This is the big one: Some people have enough income/assets that they will pay full tuition; and there's nothing that can be done about it, especially if it's because of income.
So, in terms of recommendations:
1) Based on the info you've shared with us, your income/assets are probably too high to qualify for need-based aid according to their formulas. If your income is too high, no amount of shifting assets will get you any financial aid. So, I'd start by trying to find out if your income is too high. You could try using one or more online calculators and use your income only (ignore your assets). If they say you can afford to spend $80K/year, the chances of you getting any aid are pretty slim. If that's the case, I wouldn't do any asset movements that would jeopardize your long-term financial situation in a likely useless attempt to get financial aid. Even if you can get some, it will likely be very small and might not be worth the long-term cost.
2) In any case, talking to the FA office can't hurt. If your child was admitted to an equivalent school (e.g., another Ivy or Stanford) and their package appears better, you could ask the FA office to consider revising their offer. They'll probably tell you that they won't match the other offer, but they will very likely consider it (which is a word game to avoid saying they match other offers). If the other school is Princeton, they probably won't match the no-loan aspect. But, it can't hurt to ask. In our experience, each of the 2 schools we were dealing with knew exactly how the other school calculated their aid and they showed us that they were equivalent even though they didn't look like it on the surface. They clearly had this info memorized, which means they had taken it into account when making their aid offers. I'm not saying they were colluding, but they clearly knew their competition.
3) If your financial situation has changed negatively since you filled out the application, or if you made a mistake on the application, make sure you tell them.
4) If something about your financial situation is unusual and they either didn't have a way for you to tell them or they might have overlooked it, make sure you inform them. We had an unusual situation that we were able to put on the custom part of the application (i.e., not FAFSA), and they definitely considered it and it definitely helped us.
5) You could see if you can find outside scholarships. If you were already getting financial aid, outside scholarships would probably be useless since the school usually reduces their need-based award dollar-for-dollar based on the outside scholarship. But, since you're getting no aid (other than a loan), this avenue could be worth exploring. Your kid's guidance counselor can probably point you in the right direction for ideas like essay contests, community scholarships, civic or ethnic group scholarships, etc.
6) Even if you get no aid this year, apply again next year. Princeton recently changed its formula to be more generous. You never know if your child's school will do the same.
1) If your child applies themself, they will likely get a top-notch education. If they coast, they're wasting your money.
2) An Ivy diploma does open doors, and it often results in a higher starting salary.