The process of applying for federal financial aid is simple, if you qualify. Generally, all U.S. citizens are eligible except in specific circumstances. For instance, male citizens must register with the Selective Service System (a list of all males who could be called to defend the United States in a national emergency). Not only is this required for those hoping to be eligible for financial aid, it is required by law. The financial aid application process itself only takes about 30 minutes, can be completed entirely online, and requires financial statements and tax documents. For students and/or their families whose income is below a certain level, tax credits may provide monetary relief.