Have you filled out your FAFSA? More graduates passing up on federal aid, according to study

High school graduates in the U.S. have passed on more than $2 billion in college financial aid this year, according to the personal finance site Nerd Wallet.

The site says many college freshmen did not fill out the application for Federal Student Aid (FAFSA).

Applications for the 2018-19 academic year are open until June 30, 2019, although students are encouraged to apply much sooner. At least 12 states distribute grants on a first-come, first-serve basis.

An undergraduate student can borrow at least $5,500 from the government each year, Nerd Wallet said.

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