This publication presents a set of eight recommended reforms and improvements for delivering financial aid to postsecondary students especially the Federal Family Education Loan Program (FFELP). The recommendations are: (1) make applying for student aid simpler for students; (2) assure the continued availability of a dependable, reliable source of loan funds; (3) ensure on-time delivery of funds to students; (4) streamline the loan servicing process for students and schools; (5) reduce overall program costs to students and institutions through increased operating efficiency, while keeping net cost to the federal government the same or lower; (6) enhance control over the student loan program at the campus level; (7) simplify and standardize program administration while retaining the flexibility to offer institutions and their students customized solutions to their specific needs; (8) strengthen program integrity and reward superior performance. For each recommendation there are specific recommended actions with detailed explanation, rationale, regulatory and statutory references, and places where the recommendation is or has been implemented. An appendix contains guidelines for responsible marketing by FFELP participants, and lists of task force members and members of the Coalition for Student Loan Reform. (Author/JB)