During the year 1973, the Kentucky Higher Education Assistance Authority (KHEAA) conducted a five-phase research program on postsecondary student financial needs and resources in Kentucky. This document deals with phase V of that study. The major objective on phase V is the development of model student assistance programs for Kentucky. KHEAA has assumed that the development of model student assistance programs will include administrative procedures, program guidelines, and funding levels and methods as essential elements in the implementation of student assistance systems. KHEAA also believes that the types of programs proposed are significant and feels that, as a minimum, loan, grant, scholarship and work-study programs should be considered, and that any model student assistance programs developed for the Commonwealth must be tailored to the needs of the potential beneficiaries. This document includes a review and summary of phases I-IV, a review of student assistance plans in other states, and a set of proposed goals and objectives of the Kentucky Higher Education Assistance Authority. Final sections of this report provide identification and assessment of alternative model student assistance programs, development and documentation of alternative strategies, and a summary of study recommendations. (Author/KE)