Student financial aid has always been burdened by a complexinterplay of institutional needs and public policy goals. But inthe past decade, that interplay has been complicated by risingcollege costs, increased consumerism, and the use of financial aidto meet both student needs and campus enrollment goals. This volumehelps to explain the often conflicting relationship between studentaid and enrollment management-and helps administrators sort out thefactors most critical to effective student aid and enrollmentpolicies. The chapters examine the political and cultural contextthat influences decisions about student aid and enrollmentmanagement, the special enrollment management challenges facingindependent colleges, and some alternative methods for financing acollege education. The authors also provide an extensive review ofthe research on the impact of student aid on recruitment andretention, offer recommendations for ethical enrollment planning, and furnish a valuable list of resources for enrollment planners, researchers, and policymakers. This is the 89th issue of the quarterly journal NewDirections for Student Services.