Are today's undergraduates getting more for their money, given the rising costs of higher education? Based on student perceptions, this report offers a mixed response. In the areas that matter most to students--the quality of instruction and academic advising--student satisfaction has not changed noticeably over the past five years. Yet students today are more satisfied with certain aspects of their experience, including their course registration experiences and the adequacy of computer labs and libraries. This report highlights areas of the college experience where student satisfaction is up, where it has held steady, and where it is down. Unique to this report, the findings shown first are those that matter most to students, followed by findings that matter less to them. Findings in this report are based on a comparison of national student satisfaction survey data gathered during the 2004-2005 academic year compared with national data on identical survey items gathered during the 1999-2000 academic year. The data were judged to be representative and statistically significant in size. In 2004-2005, the data sample included 226,432 students from 425 institutions. In 1999-2000, the sample included 235,786 students from 510 institutions. Both samples included a mix of two-year, four-year, public and private institutions.