This report was designed to provide complete and comparable statistics on student aid for all California postsecondary institutions from 1990 through 1994. It includes information on all major sources of financial aid, the types of aid available, the amount of funding for each type, and the distribution of student aid dollars among the three public postsecondary education sectors (the University of California, California State University, and California Community College systems) and the independent colleges and universities. The data indicate that: (1) financial aid has not kept pace with increases in the costs of higher education; (2) most of the current financial aid available is in the form of loans, leading to a rapid increase in student borrowing; (3) most of the increase in grant aid at public institutions has come from student fee dollars "recycled" for financial aid to other students; and (4) University of California students now receive more state grant aid dollars than students from private institutions. The results of this study reinforce the need for public debate about the role of student aid in the funding of higher education. Graphs and tables present details of the study's findings. (MDM)