Abstract
This chapter discusses financial aid granted by entities other than the institution the student attends. Federal financial aid has played an important role. The chapter begins with a brief history of federal financial aid policy and then describes the federal needs-analysis system that determines a family's ability to pay. The chapter also explains the types of federal financial aid that are available: grants, loans, work-study, and tuition tax credits. State financial aid programs also are important, and the chapter shows how they have moved away from need-based systems toward merit-based grants. Lastly, the chapter explores the growing importance of private financial aid programs. The final section of the chapter discusses the interactions among these different sources of financial aid.
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