Hearings on reauthorization of the Higher Education Act of 1965 that were held in St. Louis, Missouri, are presented. Student assistance programs are the centerpiece of the Higher Education Act and play a critical role in achieving the federal objective of equal educational opportunity. The Higher Education Act also contains programs to assist college libraries, international education, and cooperative education, as well as the Fund for the Improvement of Postsecondary Education. Recommendations concern: proposals for the Guaranteed Student Loans (GSL) that would raise loan limits, eliminate the 5% origination fee, and reinstate loan consolidation provisions; funding to assist predominantly black institutions and the institutional eligibility criteria; reinstating the old Teacher Corps and Teacher Center Programs; teacher education scholarships; the aid cap of $4,000 for Pell grants; a proposal to increase GSL with provision for inflationary increases; need analysis procedures for student financial aid, and a stronger role in graduate education in the reauthorization of the Higher Education Act. The Missouri system of student loans is described, and Title IV and particularly GSL are discussed from the perspective of the Missouri guarantee agency. (SW)