Financial aid for students is now a complex educational industry, with expenditures in California reaching $1,500,000,000 in 1987 (including loans, grants, and jobs). This has grown from under $10,000,000 in the 1950s. As it became more important to study the policies involved in student financial aid, The Eureka Project was created. This privately run project reviews the development of California student financial aid, defines issues, and suggests future policy guides. Since students are active participants in the student aid delivery system, they need to understand how they participate. This booklet explains the application course and discusses when different information on recruitment and student aid is given to California high school students. It looks at such specifics as deadline dates and award announcements. There are explanations of the Cal Grant and Pell Grant programs, as well as specifics on what type of information is needed for application. Also noted are requirements for guaranteed student loans. (SM)