Financial aid is a common topic among home educators who issue their own diplomas/transcripts, so I thought this
info might be helpful:
From HSLDA: "The Higher Education Act Amendments of 1998 prohibits colleges who receive federal funds
from requiring an accredited diploma or GED in order for a student to be eligible for federal financial aid if 'the student
has completed a secondary school education in a home school setting that is treated as a home school or private school under
state law.' Instead, the U.S. Department of Education considers the homeschool transcripts and/or diploma as sufficient evidence
of completion of a high school education for homeschool graduates. The Committee believes that college admissions should be
determined based on academic ability of the student and not the accreditation status of the school in which he or she received
a secondary education..Requiring additional testing [i.e. GED] only of students educated in these settings could reasonably
be seen as discriminatory." -105th Congress, 2nd Session, House of Representatives, REPORT 105-481, Higher Education
Amendments of 1998, April 17, 1998, p. 147.