An objective of the federal student financial aid programs is to promote access to higher education, especially for students from disadvantaged backgrounds. During the past few years, concern has been expressed by diverse segments of the higher education community that this objective is not being met for black and Hispanic students. This article analyzes the effects of aid offers on enrollment decisions by college applicants from the classes of 1972, 1980, and 1982, and analyzes the effects the type of aid offered had on enrollment by minority students in the classes of 1980 and 1982. The principal findings from this analysis are that (1) all types of aid packages had a positive impact on enroliment decisions by college applicants in all three classes, and (2) all types of aid had a positive influence on enrollment by minority students.