The educational and living costs of undergraduate studies and the ways these costs are shared among parents, students, taxpayers, and philanthropists/donors are considered for five countries: the United States, the United Kingdom, the Federal Republic of Germany, France, and Sweden. Five policy issues that are linked to how costs are shared by parents, students, and the general taxpayer are identified, including the participation in higher education by low-income and other previously excluded groups. The five country profiles and comparative analysis consider: the out-of-pocket costs faced by students and parents; the expected parental contribution, if any, and how it is derived; the expected student contribution, from savings, work, or loans; the taxpayer-borne contribution (e.g., need-based grants, loan subsidies); trends and issues regarding the sharing of higher education costs within each country; problems or issues common to all five countries; and each country's structure and governance of higher education. Appended materials describe the concept of "purchasing power parity," as well as concepts for separating subsidized loans into a "true loan" and an "effective grant." (SW)