This guide is designed to provide student financial aid officers and other college administrators with an overview of the William D. Ford Federal Direct Loan and Federal Family Education Loan programs. Sections of the guide review recent changes to the programs encompassed in the Higher Education Act Amendments of 1998, as well as the guidelines for borrower and institutional eligibility, making loans, payments to borrowers, repayment, deferment and forbearance, loan discharge and forgiveness, delinquency and default, consolidation loans, default reduction measures, counseling students, and additional school requirements. Two appendixes provide directories of client account managers and guaranty agencies. (MDM)