Among those who didn’t apply for financial aid, 13 percent said they didn’t know how, and 9 percent said it was too much work.

The Fiscal Times reports.

Millions of College Students Are Making This Big Financial Mistake

Despite the student loan crisis, about 20 percent of college students may be missing out on a key source of college funds. New data from the U.S. Department of Education finds that one in five undergraduate students did not apply for any student aid, and 10 percent applied only for private aid.

Among those who didn’t apply for aid, 44 percent thought that they were ineligible, making that the most common reason for skipping the application, followed by 43 percent who thought they could afford college without financial aid. Nearly a third of those surveyed said that they didn’t apply because they didn’t want to take on debt.