Using data from the 1993-1993 and 1999-2000 National Postsecondary Student Aid Study (NPSAS:93 and NPSAS:2000), this study examined the most recent trends in net price of college. Changes in net price were analyzed for higher education as a whole and within each type of institution for students with various levels of income and financial need. Students included in this study were full-time undergraduates at public four-year, private not-for-profit, and public two-year institutions. Reflecting both expanded eligibility for federal loans and a response to increased tuition and fees, undergraduate borrowing increased significantly over the period. The percentage of full-time undergraduates who relied on federal student loans to help pay their tuition increased from 30% to 43% overall. Although no increase in borrowing was observed for students in the lowest income quartile, the likelihood of borrowing increased for middle-income and high-income undergraduates. There was a relatively small increase in the percentage of full-time undergraduates who were awarded state grants, but undergraduates were much more likely to receive institutional grant aid in 1999-2000. The percentage of full-time undergraduates who were awarded institutional grant aid increased from 23% to 31% overall, and the average amount of aid also increased. However, when all grants were subtracted from tuition, no change could be detected in the average amount that full-time undergraduates paid between 1992-1993 and 1999-2000. The same was not found for the net price of attendance, a finding that was consistent across all institution types included in the study. Three appendixes contain a glossary, technical notes, and supplementary tables. (Contains 27 tables, 10 figures, and 21 references.) (SLD)