The passage of H.R. 12274, the Middle Income Student Assistance Act, to amend Title IV of the Higher Education Act of 1965 to increase the availability of assistance to middle-income students is recommended in this House report from the Committee on Education and Labor. The purpose of H.R. 11274 is to provide needed financial assistance to students from hard-pressed working class and middle-income families. The bill expands and improves five existing programs of financial assistance: Basic Educational Opportunity Grants (BEOG); the Guaranteed Student Loan Program (GSLP); Supplemental Educational Opportunity Grants (SEOG); College Work-Study Program (CWSP); and the State Student Incentive Grants (SSIG). The main provisions of the bill are summarized and the following information is provided: (1) background and need for the legislation; (2) hearings and committee action; (3) the programs; (4) miscellaneous amendments; (5) inflationary impact; (6) oversight; and (7) cost estimates. A section-by-section description of the bill is provided along with changes in existing law made by the bill. (SPG)