Tables, graphs, and text summarize the most recent statistics available on financial aid available to students in postsecondary education including virtually all federal aid and the vast majority of state and institutional assistance. It revises earlier 1990s data and provides estimates for the academic year 1995-96. Study highlights include: (1) federal and state aid topped $50 billion in 1995-96, with federal loans being the largest single source; (2) total loan volume has increased 65 percent since 1992-93, but annual growth has slowed with the 1995-96 volume 8 percent higher than in 1994-95; (3) student borrowing has increased (after inflation) by 6 percent, but parent borrowing through the PLUS program (Parent Loans for Undergraduate Students) increased during the same period by 29 percent; (4) the expansion in federal programs resulted from an increased number of loans rather than growth in loan amount; (5) the Stafford Unsubsidized program and the Ford Direct Loan Program have been the fastest growing programs; (6) federal grant aid has decreased substantially; (7) tuition increases continue to outpace growth in personal and family income. Seven tables provide data for the period 1986-87 through 1995-96; two appendix tables cover all years in the database (back to 1963-64). (CH)