This guide is designed as an in-house tool for postsecondary educational institutions to evaluate the efficiency and effectiveness of their administration of financial aid programs in compliance with federal laws and regulations. References to current regulations or, where final regulations have not yet been issued, to statute, are included for each program. An effort has been made to include all questions that would normally be relevant in an official program review at any type of postsecondary institution, along with recommended good administrative practices. The guide is in a question-and-answer and checklist format, and the information is applicable to award years 1995-96 and 1996-97. An introductory section outlines the purposes, design, and use of the guide. The first part addresses institutional responsibilities, including policies and procedures (institutional and program eligibility, administrative requirements, financial responsibility, information sharing), personnel and inter-office communication, and student consumer information. The second part begins with general provisions for administration of federal Title IV programs, then contains specific questions pertaining to each federal program. The third part concerns fiscal office responsibilities for general fiscal administration, drawing down funds, and cash management. The fourth part consists of lists of document control resources, Title IV legislation, health professions legislation, nurse training legislation, and frequently used abbreviations. (MSE)