Good Evening To all

I have a friend, single mother of two teenage kids. Both are destined for college. Her father just passed away. He had life insurance so she now has $750,000 sitting in an account. She is concerned if she invests this money it will hurt her kid's chance of getting scholarships or student loans. She is also unsure what to do with the money because she has no idea where she may be in 3 to 5 years.
Is there a way she can invest this money without it being shown as an asset in the eyes of student loans and scholarships?

Thank you in advance

Gary