The impact of student aid policies on women is assessed. Patterns of enrollment and economic profiles differ for male and female students. Women, for example, far surpass men as adult, part-time, independent, and unclassified students, the categories most likely to present barriers to participating in most financial aid programs. Gender issues in student aid policy include: loan burdens of women in light of the data that women generally earn lower salaries than men; women's loan default rate and their rate of bankruptcy; the award of merit scholarships to males and females; the unmet financial need under current student aid policies for single women with children because of their classification as independent students; barriers to working women in corporate benefit programs that pay tuition; child care as a cost of attending college; contradictory policies in public welfare and student aid programs; participation of low-income females in the Guaranteed Student Loan Program; the contributions to college costs that women's parents make compared to men's parents; and award of research assistantships to women compared to men. Actions that could improve women's participation in student aid programs are identified. (SW)