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Your eligibility for federal student aid can be affected by incarceration and/or the type of conviction you have.
Drug convictions no longer affect federal student aid eligibility. When you complete the FAFSA form, you will be asked whether you had a drug conviction for an offense that occurred while you were receiving federal student aid. If the answer is yes, you will be provided a worksheet. Please do answer the questions on the worksheet; however, your answers won’t affect your federal student aid eligibility.
https://studentaid.gov/understand-aid/eligibility/requirements/criminal-convictions#what-other-convictions-might-affect-my-aid