This report is the third in the series of reports that examine national postsecondary student transfer pathways and patterns. Whereas the last two reports focused on the fall 2006 and fall 2008 cohorts, this specific report focuses on the cohort of students who started postsecondary education in fall 2011. Previous transfer and mobility reports showed that many students attend multiple institutions before graduating from college. Further research has also established that the frequency, timing, and direction of transfer vary greatly with factors such as starting institution type/sector and enrollment intensity. For the first time, this report will include transfer patterns disaggregated by race and ethnicity. This will not only provide insight into how various groups of students move through their postsecondary education, but also show how students from traditionally underrepresented groups navigate the pipeline in comparison to their peers. This report, unlike the Completions report, measures transfer rates for the cohort regardless of whether students have completed a credential or are still enrolled at the end of the study period. Unlike the Time to Degree report, this present report covers a starting cohort, not a graduating cohort through a six-year window. In comparison to the Tracking Transfer report, this report investigates all types of transfer, not just two- to four-year transfers. This report analyzes student enrollment patterns across two-year and four-year, public and private institutions, and examines the distribution of transfers and mobility across state lines and over multiple years. Such a comprehensive look makes the findings useful for state and institutional policymakers as well as for college administrators and the general public. With a better understanding of student transfer and mobility, institutional policymakers can become more equipped to advise their students on different postsecondary pathways. [For the 2017 Signature report, see "Completing College: A National View of Student Completion Rates--Fall 2011 Cohort. (Signature Report No. 14)", ED580318.]