This guide provides information to college-bound students on the Federal student aid programs that are available and how to apply for them. General information covers the student eligibility requirements, financial needs, dependency status, and steps for applying for financial assistance. In addition, any special circumstances that exist, deadlines, and telephone numbers are supplied. The guide continues with descriptions of various grants, work-study programs, and loans including Pell Grants, Perkins and Stafford Loans, campus-based programs, and supplemental loans. In addition, the borrower's responsibilities and rights are outlined as are questions applicants should ask themselves before deciding to borrow, such as how much debt is affordable and the prospects for loan consolidation. Finally, the guide discusses Federal financial aid for those who participated in Desert Shield/Storm. (GLR)