Hearings on the proposed federal fiscal 1984 budget are presented that focus on proposals for federal student financial assistance. One of the major recommendations of the Reagan administration's budget is to eliminate funding for the Pell Grant, Supplemental Educational Opportunity Grant, and State Student Incentive Grant programs and to create instead a self-help grant program with a maximum grant of $3,000. Students would be required to provide 40 percent of their educational costs. Additional recommendations are: to increase appropriations for the College Work Study program by 57 percent from the fiscal year (FY) 1983 level of $540 million to $850 million for FY 1984; and to double the origination fee for the Guaranteed Student Loan (GSL) program from 5 to 10 percent for graduate students, and to implement a needs analysis for GSL students regardless of income. In addition, federal funding for the National Direct Student Loan program would be eliminated, and an educational savings account would be created to encourage family savings toward college costs. The Department of Education proposes a major philosophical shift in federal student aid to return to the traditional emphasis on parental and student contributions as the basis of meeting college costs. (SW)