The purpose of the study was to determine the perceptions of Ball State University graduates who participated in Guaranteed Loan Programs regarding the experience of borrowing through these programs. Specifically the study was concerned with: (1) Identifying the individual's perceptions of the influence of borrowing on selected areas related to the borrower's financial affairs; (2) identifying the individual.'s perceptions of the influence of borrowing on selected areas related to the borrower's personal life; and (3) determining the borrower's opinion about participation in the Guaranteed Loan Program(s) as related to the appropriateness of the amount of money borrowed, criteria for eligibility for participation, criteria for repaying the amount borrowed, advice that would be given to prospective borrowers, and the rating that would be given to the overall experience of borrowing.