The need for financial aid programs for students in junior colleges is demonstrated in this report and recommendations are made for establishing them. Grants can be outright, requiring no payback, or contingent, requiring payback in money or labor. A financial program is generally some combination of scholarships and fellowships, loans, and student employment. Examples are given for the various types of grants and/or loans along with potential sources of funds, such as state and federal donations, philanthropic foundations, alumni, business corporations, churches, service groups, and governmental agencies. It is felt that as much control of financial aid programs as possible should be maintained in one office, and that one administrator should have ultimate control. Plans should be made for the collection of delinquent loans before first loans are given out. A periodic review of financial aid policies is necessary. (CA)