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If you are a parent of a college student, or soon-to-be college student, your child might be getting overlooked for financial aid.
According to a new report by Sallie Mae, more than one out of three students from families who earn more than $100,000 annually, received scholarships worth $10,000 on average.
According to the report, one out of three students from families who earned less than $35,000 received financial aid worth just over $7,000.
Analysts blame these results on competition to recruit highly qualified students, even if they don't need financial assistance.
This report comes after a bill passed in the house on Wednesday, reducing student loan interest rates. Once the bill is signed by President Obama, undergraduate students will borrow at a 3.9-percent interest rate.
The new rate will be locked in for that year's loans, but could go up for each year after that.