The current status of education for 1998 is presented as an indicator report, analyzing key data that measure the health of education, monitor important developments, and show trends in major aspects of education. The report first presents three "Issues in Focus": "College Access and Affordability"; "Progress in the Educational Achievement of Black Students"; and "Progress in the Educational Achievement of Hispanic Students." Following the discussion of issues are 60 indicators of the current status of education, 10 of which are new. The indicators are organized into six sections: (1) access, participation, and progress; (2) achievement, attainment, and curriculum; (3) economic and other outcomes of education; (4) organization and management of educational institutions; (5) climate and diversity of educational institutions; and (6) financial and human resources of educational institutions. Within each section, indicators on issues in elementary and secondary education are integrated with those on issues in postsecondary education to reflect the continuity of educational experiences. The report includes the text, tables, and charts for each indicator plus the technical supporting data, supplemental information, and data sources. Appendices comprise over half of the publication and contain supplemental tables and notes, estimates of standard errors for the statistics, data sources, a glossary, an index, and a list of selected publications of the National Center for Education Statistics (NCES). (MLF)