This study reports on: available student financial aid, unmet student needs, and alternative mechanisms for funding Nebraska college students. A survey gathered information on direct and indirect state awards, federal awards, and institutional and private sector assistance for the 1987-88 school year. Estimated unmet student need was determined for students at the University of Nebraska, independent colleges and universities in the state, technical community colleges, state colleges, and private vocational schools. A variety of alternative financing programs were examined, including the trust approach or Michigan Plan, education IRAs (individual retirement accounts), tuition certificates, and savings bonds. A list of questions to be addressed in designing a college financing program is included. Appended materials include a report to the state legislature on creative financing and higher education; descriptive information on federal student aid programs available in Nebraska; data on available student aid by category (direct state aid, indirect state aid, federal aid, institutional awards, and other private sector aid) and institution; information on the tax status of prepaid tuition guarantee plans; and results of a national survey concerning college savings and tuition futures plans. (MSE)