Question

What does federal aid do? Describe six goals

Answer 1

Federal student aid covers such expenses as tuition and fees, room and board , books and supplies, and transportation. Aid also can help pay for other related expenses, such as a computer and dependent care.

1. informing students and families about the availability of the federal student aid programs and the process for applying for and receiving aid from those programs;
2. developing the Free Application for Federal Student Aid (FAFSA®) form and processing approximately 20 million FAFSA submissions each year;
3. accurately disbursing, reconciling, and accounting for all federal student aid funds that are delivered to students each year through more than 6,000 colleges and career schools;
4. managing the outstanding federal student loan portfolio and securing repayment from federal student loan borrowers;
5. offering free assistance to students, parents, and borrowers throughout the entire financial aid process; and
6, providing oversight and monitoring of all program participants—schools, financial entities, and students—to ensure compliance with the laws, regulations, and policies governing the federal student aid programs.

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