What qualifies as student aid?

i am looking for information on exactly what qualifies as financial aid and how long it takes schools to issue aid to the students.

grants, loans, scholarships, etc.. the money is sent to the school to cover school expenses and then if there is an excess, it's given to the student.. Usually about 3-4 weeks after u start attending class.. schools vary on their policy with time.. They want to be sure they don't give u money and then u quit so it's about a month..

Grants, scholarships, and LOANS. Many people believe that student aid is free money and some of it is. However, loans are included in that category. Whatever funds you use to assist you in funding your education is considered student aid.

I can't answer the first part of your question but can on the second one. I know from experience that you need to apply way way in advance. I applied back in Oct. of 2006. Hoping that I would be able to get aid so I could enroll for the spring semeter but still haven't got approved. I was denied because of earnings from 2005 year though I had no income from 2006. I had to apply for them to review my application again. Now it is going to take another 4 weeks before I hear something back. So, I have my fingers crossed for summer classes.