A comprehensive set of recommended policies for Georgia that address the student financial aid and related postsecondary education goals and objectives, and criteria that serve as definitions and standards for judging how well the policies are being met are presented. Based on a review of financial aid programs, the Governor's Committee on Postsecondary Education determined that there were six major areas of concern to be addressed: (1) Who has responsibility for student financial assistance? (2) What is a fair and equitable distribution of financial aid? (3) How can aid dollars be used most efficiently and serve their primary function? (4) How should basic eligibility requirements for financial aid be determined? (5) What time limits should be placed on the provision of financial aid to individual students? (6) Which postsecondary education institutions should students be able to attend and receive financial aid? Among the recommendations are the following: the primary financial responsibility for student educational expenses rests with the student and family, and a secondary responsibility rests with governments, the private sector, and postsecondary institutions; students with differing characteristics who have the same amount of need, or need-merit, should be offered the same amount of state financial aid; the state should offer aid only to students attending those institutions that have been approved as meeting appropriate operating standards; and the duration of eligibility for state aid should be extended on a prorated basis for part-time students. Study findings include the fact that about 47,000 students in the state submitted applications for need-based aid and received some form of aid in 1979-1980. Additional findings are discussed. (SW)