Hearings of the Committee on Education and Labor on the proposed Student Loan Assistance Amendments of 1982 are presented. The bill (S. 2655) is designed to provide increased maximum limitations for student loans under Part B of Title IV of the Higher Education Act of 1965 for certain students who lost benefits under the Social Security Act as a result of amendments made by the Omnibus Budget Reconciliation Act of 1981. Students whose benefits are being gradually reduced would also be eligible to receive up to $2,000 a year in supplemental loan money, but would not receive more than the annual benefits they are entitled to as a social security beneficiary. S. 2655 is based completely on need, to be determined by the Department of Education, based on the current Guaranteed Student Loan program need tests. Additionally, the aid will not be duplicative since the student would have to borrow the current maximum $2,500 loan amount before becoming eligible to borrow under the supplemental program. Testimonies and prepared statements of senators and a college president are included, along with a Congressional Budget Office estimate of the cost of the proposed amendments. (SW)