This report uses data from the Institutional Characteristics survey, a component of the Integrated Postsecondary Education Data System, to describe postsecondary education institutions in the United States as of the 1997-98 academic year. The over 9,600 institutions included are grouped into the following classes: (1) whether or not the institution is eligible to participate in Title IV federal student financial aid programs (over two-thirds are); (2) the institution's degree-granting status (47 percent had granted at least one associate or higher degree in the previous year); (3) highest level of offering; and (4) control. Among the highlights are the following: 47 percent of all postsecondary institutions are operated on a for-profit basis, 23 percent are public, and 29 percent are private non-profit; about 30 percent of institutions offer a program of four years or longer, 56 percent offer programs of two years or less; 73 percent of public institutions are under some level of state control; the most common ancillary services offered are academic and career counseling services, followed by placement services for program completers; and public two-year institutions have the lowest tuition rates, about half that of public four-year institutions. Following the highlights, the report explains its methodology and then summarizes data in tables. (DB)