Over the last two years the Midwestern Higher Education Compact (MHEC) staff conducted a thorough program review to determine the current relevance and value of the Midwest Student Exchange Program (MSEP). This culminated in the report "Student Reciprocity Programs and MSEP in the 21st Century" (ED627191) which utilized historical MHEC documents, recent publications around student exchange programs, interviews, and surveys. As a result, a set of observations and recommendations have been identified. They included: (1) clarifying MSEP goals; (2) updating and optimizing MSEP policies; (3) improving, expanding, and supporting MSEP data collection; and (4) improving MSEP administration and staffing. This report has a new look and additional data to serve the needs of a wider and more diverse group of compact stakeholders. In 2020-21, students and families in Midwest states saved more than $60 million through MHEC's Midwest Student Exchange Program, which provides more affordable opportunities for students to attend out-of-state institutions and serves as the Midwest's largest multi-state tuition reciprocity program. Currently, more than 80 colleges and universities in Indiana, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, and Wisconsin participate. The 2020-21 MSEP Data Report offers a snapshot of enrollment and savings statistics. [For "2017-18 Enrollment Data: An Easy Way to Save Money on Out-of-State Tuition Costs. Midwest Student Exchange Program (MSEP)," see ED627237.]