Orthogonal Frequency Division Multiplexing (OFDM) system gives more attentions due to its high data rate and its capability to combat multi-path interference. In this paper, two aims will be studied. First aim is to simulate OFDM system with equalization using Minimum Mean Square Error (MMSE) and Zero Forcing (ZF). Simulation results demonstrate the validity of the analytical results over Stanford University Interim (SUI) channels and AWGN, which are not clarified until now. Also, QAM constellations of this system are shown under different sub-carriers and modulation techniques over different SUI channels to illustrate these results. Other aim is to suggest a proposed scheme of OFDM system with equalization over SUI channels to decrease Peak to Average Power Ratio (PAPR). This proposed scheme combines conventional technique and ??compander technique. Optimum ? will be used in this proposed technique. Comparisons will be made between the system that is used proposed technique and the system without reduction. Simulation results show that the proposed technique is more efficient for reduction of PAPR.