The National Association of Student Financial Aid Administrators (NASFAA) task force for Re-Examining Paradigms of Campus-Based Aid was established in June 2017 to examine the "one grant/one loan" concept with a specific focus on whether and how the existing campus-based programs fit into this model. Proposals to eliminate campus-based aid programs are at odds with the NASFAA's reauthorization recommendations. NASFAA's reauthorization proposals also do not support a move to a "one grant/one loan model." However, should Congress move forward with such a model, NASFAA wants to explore the various possible iterations and the pros and cons of each. In 2016, NASFAA convened the "Examining 'One Grant, One Loan'" task force to consider trade-offs, implications, and implementation recommendations if a "one grant/one loan" model were to be adopted by Congress. This new task force builds on their work and examines potential ways to retain the most valuable aspects of the campus-based programs while also achieving simplification of the overall system. Following discussions about the merits and drawbacks of each of the federal grant, loan, and work programs, the task force attempted to incorporate the best features of each program into a cohesive model. Ultimately, two distinct scenarios were considered: a true "one grant/one loan/one work study" model that adds a portable Federal Work-Study award, and a "one grant/one loan/one campus-based" model that retains the flexibility of the campus-based programs. The task force members found merits in both approaches and did not endorse one of these options over the other. This report presents both options for further consideration.