Enrollment projections and the economic environment of higher education are analyzed, along with questions that trustees should ask. Factors that affect enrollment projections are addressed, and trend data at the national, regional, and state levels are presented. Demographic considerations include: future age distribution of the population, past enrollment trends, determinants of college-going behavior, possible offsets to the declining 18-year-old population, increased enrollment of minorities, people from low- and middle-income families, and older students, and enrollment of foreign students. Other factors that will affect enrollment patterns during the 1980's and beyond include the economy, trends in federal and state student aid, the rate of increase in college prices, employment prospects for new graduates, and the attractiveness of alternatives to college. The ways that different types of higher education institutions will be affected by declining enrollments are also addressed. Questions or concerns for trustees are identified separately for universities, liberal arts colleges, community colleges, and multi-campus colleges, and general questions applicable to any campus are also presented. The analysis is supplemented by numerous bar graphs for each region and state. (SW)