This guide provides a basic summary of student financial assistance programs provided by the federal government. First, sources of information about student aid are briefly reviewed. Next, guidelines for choosing a school are offered, such as asking about the school's loan default rate and its completion and transfer-out rates. A general information section covers grants, work-study, and loans available from the federal government. It explains standards for student eligibility, financial need, dependency status, the application process, special circumstances, deadlines, and information available from the Federal Student Aid Information Center. Next, specific types of federal aid are explained. These include federal Pell grants; direct and Federal Family Education Loan (FFEL) and Stafford loans; PLUS (Parent Loans for Undergraduate Students) loans, including direct PLUS loans and FFEL PLUS loans; consolidation loans, including both direct and FFEL consolidation loans; and campus-based programs, including Federal Supplemental Educational Opportunity Grants, Federal Work Study, and Federal Perkins loans. The final section outlines borrower responsibilities and rights. A list of definitions of important terms and phone numbers of state agencies completes the guide. (DB)