The effects of the financial aid reform introduced in Sweden in the mid-1960s were assessed, with emphasis placed on possible effects on young people from lower socioeconomic strata. The study group is a nationally representative sample of persons born in 1948, who were also studied in 1961 in relation to background, interests, aptitudes, and school grades at the age of 13. Nearly 2,000 out of the 12,000 subjects have entered universities or colleges. It was found that social background strongly influences participation in higher education. For individuals from homes in which one of the parents has a university degree, the likelihood of beginning a postsecondary education is seven times greater than for individuals from working-class homes, and the likelihood of completing a university degree is as much as 10 times higher. However, the national financial aid system has been influential: 40 percent of those from farms and working-class homes indicated that they would not have entered postsecondary studies without the financial aid. The corresponding percentage for the higher socioeconomic strata is 12 percent. The national financial aid system is also important to completion of a degree program. In addition, women have benefited from the national financial aid system more often than men, and they have also been able to finance their studies to a larger extent through this system. The aid system has been particularly important in recruiting women to professional programs of long duration. (Author/SW)