Master's degree programs have changed dramatically in the past decade. Roughly 785,000 master's degrees were awarded in 2015-16, at a rate of about two master's degrees awarded for every five bachelor's degrees (appendix figure 1). Journalists have touted the master's degree as "the new bachelor's degree"for young workers who want to stand out in a competitive workforce. But beyond the rise in the number of master's degrees awarded, there have been substantial changes in the enrollment demographics, field offerings, and delivery of master's degree programs that deserve policymakers' attention. In this brief, the author outlines recent trends in master's degree enrollment and connect these trends to potential "supply-side"factors, such as institution-level enrollment pressures, student loan policies, and predictors of success in online coursework.