In the sixth in an annual series of surveys of changes taking place in the academic and administrative practices of American colleges and universities, special attention was given to college and university faculty, in light of significant shortages predicted for the next decade. Questionnaires were completed by senior administrators at 366 colleges and universities (80% of a sample of 456). Responses are statistically weighted so that the results are representative of all American institutions offering undergraduate instruction. Results include the following: (1) some institutions are already experiencing problems in filling certain faculty positions; (2) half reported that it now takes longer to find qualified persons for full-time faculty positions; (3) over the next 5 years faculty shortages are expected to involve a sizeable number of institutions and a range of fields; (4) there is widespread use of general education requirements; (5) much activity is devoted to developing methods of assessing student learning; (6) problems with inadequate physical facilities are growing; and (7) substantial financial pressures confront both public and independent institutions. Findings are presented in five sections: faculty, minority initiatives, assessment, other changes, and challenges ahead. Detailed tables, giving results by type of institution, follow the text. The questionnaire is appended. (KM)