Fact Sheet via WH: “Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation. At the office of Federal Student Aid, our more than 1,400 employees help make college education possible for more than 10 million students each year. Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs provide grant, work-study, and loan funds to students attending college or career school. Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs provide grant, work-study, and loan funds to students attending college or career school. We ensure students and their families can benefit from these programs by

• 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;
• developing the Free Application for Federal Student Aid (FAFSA®) form and processing more than 17.6 million FAFSA forms each year;
• accurately disbursing, reconciling, and accounting for all federal student aid funds that are delivered to students each year through approximately 5,600 colleges and career schools;
• managing the outstanding federal student loan portfolio and securing repayment from federal student loan borrowers;
• offering free assistance to students, parents, and borrowers throughout the entire financial aid process; and
• 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.”