"Trends in Student Aid," an annual College Board publication since 1983, is a compendium of detailed, up-to-date information on the funding that is available to help students pay for college. This report sorts aid into grants, loans, tax benefits, and Federal Work-Study assistance. It documents funding from federal and state governments, colleges and universities, employers, and other private sources. It examines changes in funding levels over time, reports on the distribution of aid across students with different incomes and attending different types of institutions, and tracks the debt students incur as they pursue the educational opportunities that can increase their earnings, open doors to new experiences, and improve their ability to adapt to an ever-changing society. This report presents the trends in student aid for 2011. In 2010-11, undergraduate students received an average of $12,455 per full-time equivalent (FTE) student in financial aid, including $6,539 in grant aid, $4,907 in federal loans, and $1,009 in a combination of tax credits and deductions and Federal Work-Study (FWS). In 2010-11, 46% of all grant aid (and 51% of undergraduate grant aid) came from the federal government. Ten years earlier, only 29% of all grant aid (and 34% of undergraduate grant aid) was federal. The distribution of subsidies from federal education tax benefits changed considerably with the introduction of the American Opportunity Tax Credit in 2009. The percentage of savings from credits and deductions going to taxpayers with incomes below $25,000 increased from 5% in 2008 to 17% in 2009. The percentage of savings going to those with incomes above $100,000 increased from 18% in 2008 to 26% in 2009. Total education borrowing, including federal student and parent loans, as well as nonfederal loans, increased by about 2% from 2009-10 to 2010-11. Borrowing per FTE student declined by about 2% overall, after adjusting for inflation. Lists sources. (Contains 1 table and 30 figures.) [This paper was written with the assistance from Michael Hurwitz, Kathleen Little, Jennifer Ma, and Anne Sturtevant. For related reports, see "Education Pays, 2010: The Benefits of Higher Education for Individuals and Society. Trends in Higher Education Series" (ED526357) and "Trends in College Pricing, 2011. Trends in Higher Education Series" (ED526358).]