The Western Undergraduate Exchange (WUE) is a regional tuition-reciprocity agreement that enables students from WICHE states to enroll in participating two- and four-year public institutions at 150 percent of the enrolling institution's resident tuition. WUE was created in 1987 and is now the largest program of its kind in the nation. Since the first exchanges began in 1988, WUE has provided WICHE students and their parents with discounts on more than 328,650 annual tuition bills--saving them an estimated $1.76 billion. The program continues to grow. In 2011-12 more than 29,000 WUE students saved $223.8 million overall: an average of $7,696 each. A chart included in this report shows the continued growth of the program over the past five years. Students can choose from 148 participating WUE institutions. Colorado Northwestern Community College and Eastern Oregon University are WUE's newest members. WICHE encourages nonparticipating institutions to consider joining the WUE network as a tool to meet their recruitment and enrollment goals. Last fall's WUE headcount demonstrates that WUE students know where the current and future job opportunities are. Their "top 10" majors are directly aligned with some of the West's most crucial workforce needs. They are: (1) healthcare; (2) the biological and biomedical sciences; (3) engineering; (4) business; (5) education; (6) the social sciences; (7) visual and performing arts; (8) psychology; (9) parks, recreation, leisure and fitness studies; and (10) communication and journalism. (Contains 5 tables and 2 charts.) [For the Fall 2010 edition of this report, see ED540130.]