The term "Federal Student" refers to a person who is currently enrolled in college or university and receives financial aid from the United States Department of Education. This type of financial assistance is provided through various programs administered by the department, including grants, work-study, and low-interest loans. To be eligible for federal student aid, a person must meet certain criteria such as having a high school diploma or GED, being enrolled in an accredited institution of higher education, and maintaining satisfactory academic progress. Federal student aid is designed to help students pay for the costs associated with attending college, including tuition, fees, room and board, books, supplies, transportation, and personal expenses.