Free Application for Student Aid
Federal Student Aid, an office of the U.S. Department of Education, ensures that all eligible individuals can benefit from federally funded or federally guaranteed financial assistance for education beyond high school. We consistently champion the promise of postsecondary education to all Americans—and its value to our society. Federal Student Aid plays a central and essential role in supporting postsecondary education by providing money for college to eligible students and families. We partner with postsecondary schools, financial institutions and other participants in the Title IV student financial assistance programs to deliver services that help students and families who are paying for college. Today, Federal Student Aid performs a range of critical functions that include, among others: - Processing 14 million student financial aid applications each year;
- Disbursing more than $80 billion annually in financial aid to students through schools;
- Enforcing financial aid rules and regulations;
- Partnering with schools, financial institutions and guaranty agencies to prevent fraud, waste and abuse;
- Educating students and families on the process of obtaining aid and other college funding;
- Servicing millions of student loan accounts;
- Securing repayment from borrowers who have defaulted on their loans; and
- Operating information technology systems and tools that help manage our $400 billion loan portfolio.
This is a complex, multifaceted mission that calls on a range of staff skills and demands coordination by all levels of management. Consequently, Federal Student Aid—the government's first Performance-Based Organization (PBO)—emphasizes tangible results and efficient performance, as well as the continuous improvement of the processes and systems that support our mission.
|
