The outcomes states gain from investing in postsecondary financial aid programs remain hotly debated, leading to great interest in developing programs that are both cost-effective and productive in helping states meet goals. In the 2012-13 academic year, states collectively provided approximately $11.2 billion in financial aid to students enrolled in postsecondary institutions across the country. States take a wide variety of approaches in making investments in postsecondary financial aid. This report reviews several trends in state financial aid programs enacted through state legislatures in the 2013 and 2014 sessions. Major trends include changes to need- and merit-based programs, linking financial aid programs to workforce demands and state programs focused on two- to four-year transfer student pathways.