The best way to receive financial aid is to complete the FAFSA (Free Application for Federal Student Aid.  You submit your financial information, and the government calculates how much your family can afford to pay for college. As your child applies to different colleges, each college will receive this same report (the EFC- Expected Family Contribution) and the college makes up the difference in grants, scholarships and loans.  Depending on how much the college is interested in your child, the greater the grants and scholarships.  I hope that helps!
Shirley Cress Dudley
www.BlendedFamilyAdvice.com
 
http://www.fafsa.ed.gov/

Hi, I shared your question with the U.S. Department of Education, and here is the response they provided via email today...
 
"Thank you for your inquiry to Secretary Duncan about federal student aid.
 
President Barack Obama does not provide college funding directly to students. For information about President Obama's education initiatives, a student should review the information at the White House Web site: http://www.whitehouse.gov/issues/education
 
The U.S. Department of Education's major financial aid programs help students pay for education beyond high school. In general, the aid recipient must show financial need, must enroll as a regular student in an eligible program, must be a U.S. citizen or eligible noncitizen, and must meet the school's satisfactory academic progress standards in his or her course of study. The student also must register with the Selective Service if required.  
 
A student may want to review Funding Education Beyond High School: The Guide to Federal Student Aid, which describes the programs the Department administers and explains program procedures in detail. The student can access the guide at: www.studentaid.ed.gov/guide
 
A student should contact his or her state agency for information about state financial aid programs. A student can find his or her state agency's contact information on the Department's Web site at  http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_ID=SHE
 
A student also can call our Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243) or 319-337-5665 to obtain a state agency's contact information or for additional information about federal student aid.
 
We hope this information is helpful."