Specifications of the current student financial aid system, with attention to the Pell Grant, Guaranteed Student Loan (GSL), and campus-based programs, are provided. The methodology used to develop the specifications is also described. The campus-based programs include the Supplemental Educational Opportunity Grant Program, the College Work Study Program, and the National Direct Student Loan Program. For each of the aid programs, program features are identified for the following components of the delivery system: pre-application, student application, student eligibility determination, benefit calculation, fund disbursement, and account reconciliation. Activities specific to each program are also covered and further broken down into a series of steps characterized in input-process-output chains (i.e., activities that initiate a series of processes, the activities undertaken in response to inputs, and documents/actions resulting from inputs and processes). A glossary is appended. (SW)