This paper is intended to stimulate research into the policy consequences of declining school enrollment and to provoke discussion of possible policy alternatives. The paper is organized in three sections. The first section presents a summary of public school enrollment projections for Illinois, based on a 1974 study by the State Department of Research and Statistics. The second section attempts to make current trends more meaningful to individual school districts by more closely examining enrollment trends on both a statewide and county-by-county basis. The third and largest section examines probable consequences of the projected enrollment decline from a macro point of view. In this final section, the discussion focuses primarily on the issues of facility use, school district revenues and expenditures, demand for teachers, and higher education, emphasizing their relationship to each other and to future educational program alternatives. (Author/JG)