The management and operations of federal student assistance programs are addressed in hearings before the Committee on Education and Labor. In fiscal year 1981, the Office of Inspector General (OIG), Department of Education (ED) issued 4,811 audit reports on postsecondary education programs. Costs disallowed or questioned amounted to $25.3 million. Most of these reviews were financial and compliance audits of the campus-based and Pell grant programs performed by independent public accountants. To assist colleges and universities to develop their own standards of satisfactory academic progress in compliance with federal eligibility requirements, guidelines and initiatives have been developed by the American Association of Collegiate Registrars and Admissions Officers, the National Association of Student Financial Aid Administrators, and the American Council on Education. State guarantee agency views on the Guaranteed Student Loan (GSL) supplementary programs, specifically the Parent Loan and Auxiliary Loans to Aid Students programs, are presented. The General Accounting Office considers their recent reports on satisfactory academic progress, the effectiveness of institutional repayment and collection practices in the National Direct Student Loan program, and ED's management of the GSL program. Lastly, the current status of the Student Loan Marketing Association (Sallie Mae) programs are addressed, along with loan consolidation, warehousing, and servicing of loans; and new authorities granted Sallie Mae by recent federal legislation. (SW)