Roughly 55 percent of this year's graduating high school class applied for federal financial aid, while about 1.6 million did not complete the FAFSA. A recent analysis revealed that 49 percent of students who skipped the FAFSA mistakenly believed they were ineligible for aid. Other reasons included not needing aid, fear of debt, lack of information, perceived application difficulties, and deterrence from last year's application process issues. Understanding these students' profiles is vital for addressing the eligibility misconceptions and increasing overall FAFSA completion rates.
Among students who didn't complete the FAFSA, 49% reported not believing they qualified for aid, revealing a significant misunderstanding of eligibility.
A new analysis by the National College Attainment Network reveals key reasons for not completing the FAFSA, including the belief they don't qualify.
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