Information on sources of student financial aid for the 1985-1986 academic year is provided, along with an overview of need analysis in general, and the American College Testing Program (ACT) system. This guide, which is designed for counselors, provides answers to more than 100 frequently-asked questions about financial aid, and a description of ACT financial aid guidance materials. Nine federal programs, six state programs, and three other programs that provide financial support for students are briefly described. After explaining The Uniform Methodology for determining students' financial need, attention is directed to advantages for families and agencies of the ACT's Student Need Analysis Service, which is based on the Uniform Methodology. The following ACT financial aid documents are described: Family Financial Statement (FFS), Student Data Form, Comprehensive Financial Aid Report, and Student Financial Aid Report (SFAR). A sample SFAR and instructions are provided, along with a FFS. The questions/answers about financial aid include general issues concerning eligibility and deadlines, dependency status, information on savings and trust funds, divorced parents and step-parents, and changes in circumstances (e.g., family moves, marriages, and deaths). A referenced index of FFS questions is included, along with a glossary of financial aid terms. (SW)