The Recession, Retrenchment, and Recovery Project examined the effects of recessions on financial access to college during the 25-year period 1979-2004, identified states that have been relatively successful in maintaining financial access, and collected policy strategies used by these states. This study examined the similarities and differences among states, and the effects of recessions on higher education funding, tuition and fees, and need-based student financial aid programs. Tuition and student aid were the focus of the study because state policymakers can influence or control them through policies, appropriation priorities, administrative processes, and coordination. Among the findings were that higher education appropriations did not keep pace with growth in the state economy in any state. In all states, the real Gross State Product (GSP) increased faster than higher education appropriations during the period of the study. Three of the four recessions negatively affected funding for higher education--total appropriations as well as appropriations per FTE enrollment. Nationally, appropriations per FTE declined 2.0% following the 1980 recession, 5.0% after the 1990-91 recession, and 8.6% following the 2001 recession. Unlike other recessions, there was an increase in appropriations per FTE following the 1981-82 recession. Following an introduction, this report is divided into four chapters. The first chapter of this report, Consequences of Recessions, describes the results of the first phase of this project, analysis of 25-year trends in state appropriations for higher education, allocations to student financial aid, and changes in tuition and fees at public institutions. These trends are examined in the context of national recessions and related changes in states' economies. The second phase of the project was a survey of state higher education organizations designed to ascertain how states dealt with the national recession that occurred in 2001. Chapter 2, Impact of the 2001 Recession, describes the results of this survey--priorities that guided state funding, program changes, strategies used to maintain financial access, and the outlook for the future. Chapter 3, State Visit Report, highlights the third phase of the project: seven states were selected for further study through interviews of policy leaders in higher education and student financial aid administration. Interviews addressed policies and strategies the selected states used to maintain and expand financial access across successive economic cycles. Based on what was learned from the fiscal analysis, survey of states, and interviews of policymakers in seven states, Chapter 4, Recovery and Beyond: Strategies for maintaining Financial Success, presents recommendations formulated to serve as resources for states seeking new strategies. Four appendixes include: (1) Fiscal and Economic Analysis Tables; (2) Data and Research Design; (3) State Survey Questionnaire; and (4) Policymakers and Higher Education Leaders Interviewed. (Contains 24 tables and 6 figures.) [This project was also conducted by the National Association of State Student Grant Aid Programs (NASSGAP). For related volume, see ED502181.]