Aspects of the student benefit program under the Social Security Act and the consequences of phasing out the program are considered. The 1981 Omnibus Budget Reconciliation Act phases out the Old Age, Survivors and Disability Insurance (OASDI) student benefit program under the Social Security Act. The OASDI was one of the largest programs offering cash assistance to college students. The program encouraged school completion by providing benefits to dependent children of retired, disabled, or deceased workers. In recent years, debate has centered on whether Social Security student benefits should be considered aid, or benefits earned by the parent. While the non-means tested nature of Social Security student benefits has been criticized, available data on the relationship between family income and Social Security student benefit amount show that these benefits remain largely constant as income increases. The effect of eliminating Social Security student benefits along with current reductions in federal student financial aid programs on the ability of low income students to attend college is questioned. Attention is directed to the calculation of student benefit amounts, data on participants, and the interaction of OASDI and Title IV student assistance, particularly Pell Grants. (SW)