Trend data on federal financial aid to students attending private colleges and universities are reviewed, based on a 1981-1982 survey of student aid records from a national sample of aid recipients attending 122 independent schools with enrollments of more than 500 students. Findings include the following: of the approximately 1.8 million undergraduates enrolled at independent institutions, 999,000 (55.7 percent) received some form of financial aid. Although total undergraduate enrollment increased almost 2 percent between 1979-1980 and 1981-1982, the percentage of total undergraduate aid recipients dropped from almost 60 percent of total undergraduate enrollment in 1979-1989 to 56 percent in 1981-1982. The number of undergraduate students in these institutions receiving aid dropped by about 16 percent, which is counter to trends in public institutions. The number of dependent undergraduate aid recipients from families with incomes in the $6,000 to $24,000 range declined dramatically. In addition, there was a decline of almost 18 percent in the amount of Pell Grant funding to students attending independent institutions, and almost a 10 percent decrease in the number of Pell Grant recipients. There was a major increase in institutional need-based aid: the percentage of recipients increased from 45 percent in 1979-1980 to 55 percent in 1981-1982, and the average institutional award increased by 19 percent. The number of students participating in the Guaranteed Student Loan program during the 2-year period doubled, and the average loan increased by 27 percent. The proceeds of self-help efforts (loans, work, student savings) averaged 41.4 percent, an increase of over $1,000 per student over 1979-1980 levels. There also was an indication that minority participation declined in the 2-year span. (SW)