The "Student Financial Aid Handbook" explains the policies and procedures required for institutions of higher education to administer federally funded student financial assistance programs properly. This volume clarifies a school's responsibility with respect to Stafford and PLUS loans. These loans are offered through two delivery systems: the William D. Ford Federal Direct Loan (Direct Loan) Program and the Federal Family Education Loan (FFEL) Program. The borrower's eligibility is the same under either program, but the procedures are different because funds for Direct Loans are provided to the school by the federal government, while loan funds under FFEL are usually provided by a private lender and are guaranteed by a state agency. The chapters are: (1) "Institutional Eligibility and Administrative Requirements for DL/FFEL"; (2) "Borrower Eligibility for DL/FFEL"; (3) "Determining the Loan Period"; (4) "Starting the Loan Process: The MPN & the School's Role"; (5) "Loan Counseling"; (6) "Payment to the Borrower"; and (7) "Following Up: After the Loan Is Made." (SLD)