Freshmen entering college this fall left $2.3 billion in financial aid on the table by not filling out the free application for federal student aid or the FAFSA, according to an analysis published Monday by NerdWallet, a personal finance site. Researchers at the site came to this number by estimating the number of high school graduates who didn’t complete the FAFSA and would also have been eligible for a Pell grant, the money the government provides to low-income students to pay for college. They multiplied that by the average amount of Pell aid disbursed to students.
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