Billions in Financial Aid Goes Unclaimed: How to Get Your Share in 2026

Financial aid isn't just a possibility; for many, it's a guarantee that goes ignored. According to ongoing research by the National College Attainment Network, a significant percentage of high school seniors fail to unlock their eligibility for federal grants and work-study programs each year. This unclaimed pool of resources represents a missed opportunity for students to lower their college costs without taking on additional debt. The $7,395 (maximum) Pell Grant is free money—financial aid that doesn't need to be paid back! The Pell Grant is generally awarded to lower-income students. Still, the funds can only be obtained by completing the FAFSA. The same goes for work-study programs. College students can earn money by working on campus (sometimes off-campus) via federal work study programs, but a FAFSA must be completed first. Similarly, the National Scholarship Providers Association reported that an estimated $100 million in scholarships go unused each year as well because of a lack of applicants, according to SoFi.

How to Get All of Your Financial Aid

While families go to great lengths to attempt to qualify for financial aid and apply for scholarships, there's a chance they're not doing enough. If you plan to attend college next year, you must put in the work and effort to apply for financial aid and scholarships. How can you get the most out of the financial aid dollars? Do the following:

File the FAFSA.

The FAFSA stands for Free Application for Federal Student Aid, but it's not just for federal aid. It's required for state and school aid as well. If you don't fill out and submit the FAFSA, it can harm your odds of getting financial aid. And though it has a reputation for being difficult, its bark is worse than its bite. If completing your FAFSA seems overwhelming, you can get help navigating the form. For one, there is 24/7 email, chat, and phone assistance. Many states and communities around the country host a FAFSA help day each year as well. Ask your high school counselor for details. Students and their families can meet with counselors and mentors one-on-one to answer questions and complete the form. Finally, students can work with their guidance counselors anytime to answer FAFSA questions.

2026-27 FAFSA Checklist: What You'll Need to Complete Your Application

Complete supplemental forms.

When it comes to state aid and financial aid from your college of choice, you may be required to fill out additional forms. Do not skip these forms. They ask more in-depth, circumstantial questions than the FAFSA to understand better how each family can pay for college. For instance, if one of your parents recently lost their job or you have a sibling that requires a great deal of medical care and financial coverage, you can better elaborate your financial situation on these forms. Furthermore, your state or school may even require these supplemental aid forms to qualify.

Review your aid packages and make appeals.

When college decisions arrive, they usually contain – or will be followed shortly thereafter – your financial aid package. Once you've heard from your colleges, compare the packages to determine which school is the best financial fit for you. You can compare offers to see how much you would have to pay after financial aid. FinAid has a handy comparison tool that allows you to input the figures to get the final figures in black and white: FinAid Award Letter Comparison Tool. Once you've studied and compared your packages, you can call each school's financial aid office to appeal your offer. Through this conversation, you can detail your family's financial circumstances, compare your offer from another school, and express your desire to attend that institution if the finances work out.

File the FAFSA EVERY year.

Finally, the FAFSA is not a one-and-done application. You must file it every year to be considered for financial aid. To fail to fill out the FAFSA would mean no financial aid for the following school year. If, by chance, you didn't qualify for financial aid the first time you filled out the form, you may be eligible next time around. Essentially, family circumstances change, and with that, your FAFSA answers and financial aid eligibility will as well. The same goes for state financial aid and school financial aid forms. Filing the FAFSA and getting your other financial aid forms squared away may seem daunting. It will likely take some time; however, it's worth it. To take advantage of the billions available in financial aid, don't forget to fill out the FAFSA as soon as possible.