This statement before the United States House of Representatives Subcommittee on Postsecondary Education reviews what students and their parents know about college costs and student aid, and examines the types of tuition-guarantee programs and their effectiveness. It reports that students have limited knowledge of the cost of attending different kinds of schools. They also know little about the availability of federal student aid, even during the last 2 years of high school. Minority and low-income students and their families did not have markedly less information than others. Secondary-school counselors were not generally regarded as important sources of financial aid information. Postsecondary school motivation was primarily influenced by academic ability, grades, family income, and desire to continue education. In 1988-89 over 42,000 students participated in private-sector programs involving early notice of guaranteed financial aid and additional support. The paper concludes that: (1) systematic information and evaluation is lacking and requires time and care to obtain; (2) due to the problems of information dissemination, perhaps a reconceptualization of federal student aid programs is in order; and (3) cost is not the primary barrier in making the decision to pursue higher education. (JB)