This document is an annual profile on higher education for the nation presenting statistics and indicators on state involvement, support and performance in higher education. The document indexes each state's statistics to a national average and ranks states on selected statistics. The report relies primarily on data of higher education institutions collected by the Integrated Postsecondary Education Data System. An introduction suggests several general cautions in the use of the data for comparative purposes and specific caveats are presented for each state's data as necessary. Chapter 1, "The National Data," includes 13 tables which illustrate how the basic institutional data available in the report can be extended to develop additional indicators of the condition of higher education in the nation. Chapter 2, "State Ranking Tables," contains 25 tables covering enrollment, salary, revenues, endowment, expenditures, student assistance, tuition and fees, research, library and appropriations data. Chapter 3 presents the state profiles and comprises the bulk of the report. Each profile details institutions, enrollment, faculty salaries, revenues, expenditures, scholarships and fellowships, and degrees awarded. Appendixes contain a glossary of terms, a listing of institutions by state, technical notes, and information on Puerto Rico. (JB)