This report sheds light on what happens to federal financial aid applicants after they submit the Free Application for Federal Student Aid (FAFSA). Using 2007-08 financial aid data from 13 California community colleges, the Institute found that one in three likely Pell-eligible applicants did not receive a Pell Grant. Also, while few students' Pell-eligibility status changed after verification, applicants selected for verification were less likely to receive grants. Through interviews and a survey, both financial aid administrators and students suggested that the complexity of the process--rather than widespread attempts by students to manipulate their eligibility or commit fraud--were the primary reason why students selected for verification were less likely to receive grants. (Contains 8 footnotes and 10 sources.) ["After the FAFSA: How Red Tape Can Prevent Eligible Students from Receiving Financial Aid" was written with Andrew LaManque and Laura Szabo-Kubitz.]