In many ways standards-based school reform is at a crossroads. On one side, the movement has made tremendous strides. The Common Core State Standards Initiative, known simply as Common Core, is now strongly established in more than 40 states. Many teachers believe that the new, higher academic standards have helped them improve instruction. And, most importantly, a solid body of data demonstrates that the standards-based reform movement has shown success in raising student outcomes. To look more deeply at the state of the education system--and the state of standards-based reform--the authors of this report analyzed the latest data from two national assessments: the National Assessment of Educational Progress (NAEP) and the Trial Urban District Assessment (TUDA). Using data from TUDA and NAEP, this report estimates the absolute number of students at or above proficient for each disaggregated group. The authors started with the overall percentages of students scoring proficient or above or scoring advanced or above on each NAEP exam in 2015. They then compared these data with estimates of the total school-age population for each group. Key findings include: (1) Some states and districts are making clear gains; (2) The state and local policy environment matters; (3) In many locations, students of color and students living in poverty still have extraordinarily low achievement; and (4) When it comes to students performing at the advanced level, outcomes are also rock bottom.