Foreword
The Office of Federal Student Aid (FSA) within the U.S. Department of Education (ED) is responsible for administration and oversight of the federal student aid programs authorized under Title IV of the Higher Education Act (HEA) of 1965. In FY2025, FSA oversaw the provision of $131.1 billion in Title IV aid to 10.5 million students. In addition, in FY2025, FSA managed a student loan portfolio encompassing 45 million borrowers with outstanding student loans totaling about $1.7 trillion. FSA manages the Free Application for Federal Student Aid (FAFSA) form, which determines a student’s eligibility for government-provided aid, including Pell Grants, a…
