TRENTON - An error on New Jersey's application for a federal education grant could have cost the state as much as $400 million.

A portion of the "Race to the Top" application asked for a comparison of the 2008 and 2009 school year budgets. The state incorrectly submitted information comparing the current year to 2011, costing the state nearly five points.

The Garden State received 437.8 out of a possible 500 points, placing it 11th in the competition, just three points behind Ohio.

State Assembly Speaker Sheila Oliver called the gaffe "a stunningmistake that is going to hurt New Jersey's children."

Less than a month ago, Gov. Chris Christie (R-N.J.) spoke about his revised proposal to win the federal money.

The governor has still promised to apply for more than $200 million in stimulus money for New Jersey schools.

Click here to see New Jersey's application for the Race to the Top program. (PDF file)

Appendix to the application (PDF Link - 1,000+ pages)