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According to the NAFSA website
http://www.nafsa.org/students.sec/financial_aid_for_undergraduate/#Information for Permanent Residents
green card holders are eligible to apply for federal financial aid. Here is pertinent information from that website:
"U.S. citizens and nationals, lawful permanent residents, and refugees and asylees qualify for federal financial aid in the form of loans, grants, or work-study opportunities. There are a few additional categories that may qualify as well. As a general rule, students in a nonimmigrant category are not eligible for such aid. The U.S. Department of Education publishes a handbook with information for financial aid professionals; addresses eligibility for international students and includes fairly detailed descriptions of the statuses that do and do not qualify for federal financial aid.
If you are a permanent resident, you can apply for federal financial aid by completing the Free Application for Federal Student Aid (FAFSA). As a permanent resident, you may qualify for federal and state government aid, including the Stafford Loan, Perkins Loan, PLUS Loan, Pell Grant, SEOG Grant, or Federal Work-Study. The FAFSA form also helps colleges and universities determine whether a student qualifies for institutional aid."
Hope this helps.