The impact of student aid policies on women is assessed. Differences in the conditions affecting men's and women's need for aid are identified, along with actions that could improve women's participation in student aid programs. Gender issues in student aid policy include: loan burden, default, and bankruptcy; the award of merit scholarships; part-time attendance; financial independence; contradictory policies in public welfare and student aid programs; barriers in corporate benefit programs that pay tuition; child care as a cost of attending college; and access to higher education for minority women. The effects of gender issues are also examined for specific aid programs: Guaranteed Student Loans, Work Study Programs, National Direct Student Loans, Pell Grants, Supplemental Educational Opportunity Grants; state scholarship and grant programs, athletic scholarships, military scholarships and veterans' benefits, and job training financial aid programs. Actions that could improve women's participation in aid programs include: targeting information toward women, funding child care, improving partnerships between high schools and colleges, and equalizing pay in college work programs. Data on enrollment, aid, resources, and attainments by gender are appended, along with information on financial assistance sources for women. (SW)