Through the three student exchange programs administered by the Western Interstate Commission for Higher Education (WICHE), approximately 23,300 residents of 15 Western states are enrolled at reduced levels of tuition across a spectrum of undergraduate, graduate, and professional programs. This annual report covers Fall 2007 enrollments in the programs, and details the funding between "sending" states and "receiving" institutions in the Professional Student Exchange Program. It provides enrollment and financial information for the Professional Student Exchange Program, and enrollment information for the Western Regional Graduate Program (WRGP) and the Western Undergraduate Exchange (WUE). (Contains 10 tables.)