The purpose of this study is to investigate the overall financial aid process from the perspective of first-time students and their parents. It seeks to determine their understanding of the entire financial aid process from completing the Free Application for Federal Student Aid (FAFSA) to when the students receive their first disbursement of funds. This qualitative study of eight individuals who completed the process focuses on how well students and their families understand the terms and conditions of repayment of student loans. Both parents and students were interviewed for the purpose of this study to determine if students or their parents are the ones who complete the process. This study also seeks to determine if less technology or conducting face-to-face loan counseling would help participants understand the terms of loans and repayment options better.