The issue of subminimum wages for full-time students who are working part-time is discussed in this publication of the National Student Association. It is suggested that large corporations and institutions of higher education are benefiting from these low wages, while students trying to finance their education during a time of growing inflation are suffering. According to the Department of Labor records, over 624,037 students were paid subminimum wages in FY 1976. Over 1,300 higher education institutions paid subminimum wages to 481,195 of these students. Federal regulations pertaining to subminimum wages are discussed. Seven steps for student action to eliminate subminimum wages are detailed. A list of regional Wage and Hour Division Offices of the Department of Labor is included as well as a list of institutions that have applied for college Work Study Subminimum Wage waivers. The text of Subpart B of the code of Federal Regulations pertaining to subminimum wages at institutions of higher education is also included. (SF)