Although the amount of student loan debt in Alabama is among the highest in the country, a new study shows that the state's high school students aren't claiming their share of free federal grant money.

According to NerdScholar, Alabama high school seniors that graduated in 2013 left $63,818,993 on the table in available federal funds from Pell Grants, which provide school funding for low-income students. That's the 13th largest amount in the country.

"There's quite a large demographic of students in Alabama that qualify for Pell Grants, more so than in other states," said NerdScholar Higher Education Analyst Gianna Sen-Gupta. "But a lot failed to fill out the Free Application for Federal Student Aid."

Of the 49,000 students that graduated high school in Alabama in 2013, 61 percent were eligible for Pell Grants however more than 17,000 of those eligible students failed to fill out a FAFSA. The average pell grant was worth $3,711 and unlike student loans Pell Grants don't need to be paid back.

Sen-Gupta said most didn't complete a FASFA mainly because they believed their parents made too much money, college would be too expensive even with the free money or the FASFA process was too confusing.

"I would encourage upcoming high school graduates to utilize resources that make the process easier, such as the NerdScholar FASFA guide and also to apply as soon as possible because Pell Grants are given on a first-come, first-serve basis," Sen-Gupta said.

Full Article: http://www.bizjournals.com/birmingham/news/2015/01/21/alabama-high-school-grads-missed-out-on-63m-in.html?ana=twt