The U.S. Department of Education recently released a comprehensive guide to federal student aid for students and their families looking to fund a college education.

Published by the Department's Office of Federal Student Aid, Funding Education Beyond High School provides an overview of the process for applying for federal student aid as well as detailed steps for taking action during each phase. With illustrative charts, the 41-page guide addresses such topics as:

* Basic eligibility requirements

* Three types of federal student aid--grants, work-study and loans--and other student aid resources

* Completing the Free Application for Federal Student Aid (FAFSA) for new and renewal applicants

* Grace period and payment schedule for repaying loans

* Options for postponement: deferment and forbearance

* Loan consolidation and cancellation

The guide concludes with a glossary clarifying financial aid terminology and a complete list of state higher education agencies.

Last year, federal student aid helped approximately 10 million students meet the cost of higher education.