College students missed out on $2.3B in federal aid

DENVER BUSINESS JOURNAL - High school graduates in the class of 2017 who didn’t fill out the Free Application for Federal Student Aid left $2.3 billion in federal college grant money unaccounted for, according to a new study from NerdWallet.

The FAFSA determines which students receive state, institutional or federal money for college, like the Pell grant for low-income students. NerdWallet found that 1,234,249 students during the 2016-17 school year did not fill out the FAFSA. The average student who didn’t apply was eligible for $3,583, per NerdWallet.

“The FAFSA gives students access to critical financial aid now, but it also makes student loan repayment more manageable in the future,” NerdWallet’s student loans expert Brianna McGurran said. “That means more flexibility if the unexpected occurs and more room in their budgets to save for long-term goals.”

Read more at the Denver Business Journal: http://bit.ly/2yWSlII

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