This publication compares the borrowing patterns of undergraduate students surveyed in the National Postsecondary Student Aid Studies of 1989-90, 1992-93, and 1995-96 who received federal Family Education (Stafford) or Supplemental Loans for Students, based on data from the National Student Loan Data System. The primary purpose of the study was to examine the effects of changes in federal student loan programs resulting from the reauthorization of the Higher Education Act (1992), which increased both the number of students who qualified for loans and the amounts they could borrow. Following an introduction that reviews the background of federal student loans and student loan supply and demand, the report discusses trends in: subsidized and unsubsidized loans; borrowing trends by type of institution; and tuition and borrowing at 4-year public and private non-profit institutions. The report notes that the change in borrowing rates for all undergraduates between 1992-93 and 1995-96 was primarily due to increased borrowing by dependent students; for independent students, total percentage of borrowing did not change, but the percentage of borrowing unsubsidized loans increased substantially. The report also notes that the relationship between tuition levels and borrowing within institutions does not vary directly with tuition levels. Appended are supplemental data tables, a glossary, and technical notes. (SM)