There has been renewed interest in regional cooperation since the economic downturn began in late 2007. In 2012, 14 of 15 Western Interstate Commission for Higher Education (WICHE) states are facing dramatic cuts in their budgets, and economists are cautious about predicting exactly when the economy might begin to improve. Fortunately, the regional higher education access programs that policymakers had the foresight to approve years ago continue to benefit Western residents. Students and their families continue to save hundreds of millions of dollars each year in tuition across a range of institutions and programs. Current WICHE student exchange students, graduates, and institutional administrators attest to the value of WICHE's Student Exchange Program. The program provides affordable access to higher education, allowing Westerners to pursue their dreams and contribute to their home state's workforce. Through WICHE's Student Exchange Program--which includes the Western Undergraduate Exchange (WUE), the Western Regional Graduate Program (WRGP), and the Professional Student Exchange Program (PSEP)--more than 30,600 residents of 15 Western states are currently enrolled at reduced levels of tuition in a variety of undergraduate, graduate, and professional programs. This report covers Fall 2011 enrollments for WUE, WRGP and PSEP and details the funds that flow between students' home states and enrolling institutions in the Professional Student Exchange Program that receive them. (Contains 2 figures and 11 tables.) [For "Student Exchange Programs: Statistical Report. Academic Year, 2010-11," see ED539042.]