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With decimal mistake, students become millionaires

Updated: Monday, July 7 2014, 09:50 PM EDT

WASHINGTON (AP) -- Low-income students have inadvertently presented themselves as millionaires on an application for federal financial student aid. That makes it less likely they will qualify for grants and loans.

The mistake stems from an online form change to the Free Application for Federal Student Aid made Jan. 1 that expanded the space to enter income. Thousands of students have since then unnecessarily entered a decimal point that the system was ignoring.

The department says a fix was made to the system last week and applications submitted this year are under review. It has said about 165,000 students have been identified as affected.

With decimal mistake, students become millionaires


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