Hearings of the Committee on Education and Labor on the status of college endowments are presented. Attention is focused on the private resources colleges and universities may have to fall back on during this period of reduced federal aid. A list of endowments of 192 colleges ranked by 1981 value, from a "Chronicle of Higher Education" article, is included, along with letters from approximately 20 colleges. In addition, testimonies of representatives of The Common Fund and the United Negro College Fund explain the College Endowment Funding Plan and how it could help achieve the purposes of Title III of the Higher Education Act. This program would add $100 million to the endowment resources of the 41 member colleges of the United Negro College Fund. The problem of financial institutions' continued participation in student loan programs and the issue of assuring that unmet financial need does not bar access to education are addressed by Martha Church, a higher education representative. Statistics for Hood College on the impact of President Reagan's proposed funding cuts for 1982 and 1983 are presented. Finally, financial data from Brandeis University are presented on operating income and expenditures for selected years and 1982-1983 proposed operating budget. (SW)