This report examines institutional aid awards for postsecondary education students for the academic year 1992-93, relating institutions students attended and student characteristics to receipt and size of institutional award. Data is based on the 1992-93 National Postsecondary Student Aid Study. Highlights include the following: (1) Institutional aid has increased at a faster rate than any other source of student financial aid since 1985; (2) receipt and amount of aid varied by level and control of institution, with full-time undergraduates in private four-year institutions more than twice as likely to receive aid as those in public four-year institutions; (3) "traditional" undergraduates (full-time, under 24, living on campus) were more likely to receive aid than other students; (4) full-time undergraduates in the lowest income quartile attending public institutions were more likely to receive aid than those in higher income quartiles. Narrative and 22 tables in the report cover: categories of aid recipients; institutional financial issues and characteristics (Carnegie classification, tuition, endowment); growth of institutional aid; and student characteristics (income, financial aid package, grade point average, race/ethnicity). A summary discusses the undergraduate and institutional characteristics associated with institutional aid. Two appendixes include a glossary and technical notes and methodology. (Contains 24 references.)(JLS)