This report presents the results of the fourth annual National Student Satisfaction Study, which examines the areas of campus life of highest importance to students, the areas of greatest and least satisfaction, and the greatest performance gaps between levels of importance and satisfaction. Data were collected from 524 colleges and universities that used the Student Satisfaction Inventory with all or part of their student body. The inventory asks students to rate on a scale of 1-7 the level of importance they assign to the expectation as well as their level of satisfaction that the expectation is being met of various elements of their college experiences. The inventory findings are presented with three scores for each item: an importance score, a satisfaction score, and a performance gap score calculated by subtracting the satisfaction score from the importance score. Analyses of the 1997 responses are presented for each item and for each of the four types of institution covered by the study: four-year public; four-year private; community, junior, and technical college; and career and private schools. Additionally, three-year trends (1994-1997) for all score types are included for four-year public and private institutions and two-year institutions. (MAB)