The amount of financial aid left on the table is astounding and growing!

Answer: $3.75 billion

Questions:

• In your own words, what is the FAFSA?
• Why do you think it's important to file the FAFSA?
• If you are planning to go to college, when do you think the best time is to complete the FAFSA?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (National College Attainment Network): 

"Financial aid makes education after high school more affordable – but first, students have to apply for this funding. And for a variety of reasons, that does not always happen.

The high school class of 2021 left an estimated $3.75 billion in Pell Grants on the table by not completing the Free Application for Federal Student Aid (FAFSA), according to a new National College Attainment Network (NCAN) analysis.

"The Pell Grant is one of our best, and best targeted, tools to close the equity gap in postsecondary attainment," said NCAN CEO Kim Cook. "This stunning increase in financial aid dollars ‘left on the table’ comes as we are battling historic declines in college enrollment. As a country, we need to work to address this disconnect systemically."

The federal government uses information provided on the FAFSA to determine whether students are eligible for, among other types of aid, the Pell Grant – a need-based award that does not need to be repaid.

Since its creation in 1972, the Pell Grant program has been the cornerstone of financial aid for students from low-income backgrounds. A crucial engine for postsecondary access and affordability, the Pell Grant program supports roughly 7 million undergraduates annually."

-----------------------

The Payback Challenge contest is ON! Your students play the award-winning game PAYBACK and Write a 250-Word Essay OR Create a 90-Second Video. Learn more. 

-----------------------

Need more budgeting activities? Check out NGPF's Paying for College unit page which is full of ideas to engage your students!

About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.

More posts by Mason