This report surveys the degree of progress made in the last 10 years toward achieving the goals of student aid programs: promoting equal access and equal institutional choice, and advancing equal retention and completion. Note is made of the impact of extending equal educational opportunity. General enrollment and student aid trends are reviewed, with the cost of attendance and its impact on students' decision to attend or not attend being considered at length. There is also an examination of the effect of student aid on enrollments by looking at the influence it has on the college attendance decisions of aid recipients. The low income group is increasing its share of private enrollments; the higher income group is increasing its share of university enrollments; the middle income group representation at both private and public institutions is decreasing. Although major progress has been made in providing access, the poor, minorities, and women are still not doing well when retention and completion are considered, and blacks, in particular, continue to be somewhat underenrolled. The most severe effects of rising costs have been experienced by middle income youth, who qualify for little or no student aid; needs analysis procedures and funding levels should be revised to provide limited benefits to students from middle income families. (JMF)