Research findings relating to the impact of student financial aid policies and practices on women are reviewed. Emphasis is placed on the importance of student aid for improving economic opportunity and security for women. The primary focus is on institutional practices and student aid programs administered by the U.S. Department of Education (Pell Grants, Guaranteed Student Loans, College Work Study, Supplemental Educational Opportunity Grants, National Direct Student Loans, and State Student Incentive Grants). The following concerns are addressed: significant demographic and enrollment trends influencing female participation in student aid; participation rates of women and average awards for the federal student financial assistance programs; problems in enforcing Title IX requirements for achieving equity in student financial assistance; the disproportionate adverse impact on women, and particularly minority women, of federal student aid regulations and institutional practices; problems in the role of the federal government in encouraging women to participate in postsecondary education; and lack of representation of women in federal student aid policy making. Supplementary statistical data are included, along with questionnaires and regulatory information. (SW)