A strategy to establish a research agenda and critical policy questions in postsecondary education finance are considered. Three steps in preparing agendas are the development of a statistical or factual overview of recent developments, the review of appropriate approaches and their relevance to the issues to be researched, and consideration of the availability and limitations of current databases. The following developments and concerns are addressed: the market for college graduates, the impact of future job prospects on enrollment, the effect of tuition levels on enrollment, and rates of return on education. It is suggested that some idea of future conditions in the job market is essential to formulating a realistic hypothesis about the propensity of students to enroll, and that anticipated earnings are not the sole determinant of reasons why students enroll. The opportunity to compete for better jobs, not necessarily better paid, may also be a powerful incentive. Attention is directed to rates of return calculations, state appropriations for postsecondary education, the allocation of state support between institutions, managing declining enrollments, and institutional finances. It is suggested that studies of financial concerns be integrated with broader-based studies of the functions of institutions. Attention should be directed to a shift in majors chosen by undergraduates, declining graduate enrollments in the leading research universities, and lack of growth in real terms of outlays for research and development. In view of limited funds, approaches that the National Institute of Education might take are noted. (SW)