The members of the National Association of State Scholarship and Grant Programs (NASSGP) are surveyed annually to collect data on state and territory funded scholarship and grant programs to undergraduate and graduate students to attend public or private postsecondary institutions. The following are among the highlights reported in this year's survey: (1) the expected growth rate of the undergraduate need-based aggregate grant aid is 6.2%, the lowest expected growth rate since 1980; (2) the non-need-based undergraduate grant programs (available in 29 states) expect a growth rate of 17%; (3) 53% of undergraduate, need-based grant recipients are female, down from 57% for the 6 preceding years; (4) percentages of Black recipients continues to decline; and (5) the percentage of independent recipients continues to increase, as has the proportion of recipients aged 26 or older. Data analyses are grouped under the following headings, each section consisting of a narrative followed by extensive tables of data: comparative program statistics, 1986-87 and 1987-88, and earlier years; program characteristics; policy issues and concerns; distribution of undergraduate need-based aid among student categories; and trends in need-based undergraduate aid dollar volumes by states. A listing of NASSGP officers and a directory of state grant agencies are appended. (KM)