This "Trends in College Spending" update presents national-level estimates for the "Delta Cost Project" data metrics during the period 2001-11. To accelerate the release of more current trend data, however, this update includes only a brief summary of the financial patterns and trends observed during the decade 2001-11, with greatest attention given to recent changes between fiscal year (FY) 2010 and FY 2011. A summary of findings indicates: (1) Four years after the Great Recession began, higher education appeared to have weathered the worst of the financial storm. By 2011, the free-fall in state funding per student had eased at public colleges and universities, and average revenues per student were steady or increasing at both public and private four-year institutions; (2) Spending declines had also more or less stabilized. Yet public and private research universities still showed cutbacks in education-related spending during 2011, despite posting larger revenue increases than other types of institutions. Institutional support spending was reigned in as four-year institutions continued to invest in non-instructional student services--although sometimes at the expense of instructional spending. Community colleges continued to show the greatest financial strain across higher education (even amid slower enrollment growth), with declines in revenue per student accompanied by widespread spending cuts; and (3) As in years past, students paid an ever-larger share of the costs institutions incur to provide a college education--particularly students enrolled at public colleges and universities--as cuts in institutional subsidies persisted across most types of institutions. However, degree productivity began to rise again at public institutions in 2011, accompanied by progress in lowering overall production costs per degree. Private institutions were less successful in boosting degree productivity and controlling costs per degree in 2011 but made longer-term gains in degree productivity, if not costs, over the decade. [See earlier "Trends in College Spending" reports: 1998-2008 at ED539421 and 1999-2009 at ED539420.]