This report is the first in a series of current term enrollment estimates from the National Student Clearinghouse Research Center, to be published every December and May. It includes national enrollment estimates, as well as subtotals by institutional sector, enrollment intensity, age group, and gender. As of fall 2012, institutions actively submitting enrollment data to the Clearinghouse account for 94 percent of all Title IV, degree-granting enrollments in the nation. Most institutions submit enrollment data to the Clearinghouse several times per term, resulting in highly current data. Moreover, since the Clearinghouse collects data from institutions at the student level, the data also allow the reporting of unduplicated headcounts, avoiding double-counting of students who are concurrently enrolled in more than one institution. In the current term (fall 2012), enrollments have decreased in every sector except four-year private nonprofits, with the largest decreases taking place among four-year for-profits (-7.2 percent) and two-year publics (-3.1 percent). The report shows percent changes in fall enrollments over the last three years. It is based on data submitted to the National Student Clearinghouse by December 1 of a given year, a cutoff that captures about 98.5 percent of the fall term data that will eventually be submitted. Estimates are adjusted for data coverage rates, which vary by institutional sector and year.