This timely volume identifies major trends in financing higher education during the first half of the 1990s. The editors have collected a series of articles contributed by such prominent individuals in this field as Brian Roherty, David Breneman, Joni Finney, and Robert Zemsky who share their insights and expertise. Part I covers trends in public spending and the implications for change of the transfer of responsibilities from the federal government to the states, examines changes in revenue sources for higher education and the policy implications for such change, and concludes with a perspective on privatization. Part II offers individual case studies about how higher education is financed in five states: California, Florida, Michigan, Minnesota, and New York.