As the nation slowly emerges from the Great Recession, the patterns of student aid are returning to the paths they were on before the economy crashed. The federal government, which dramatically stepped up its subsidies to students in 2009-10 and 2010-11, continues to play an expanded role, but not a growing role. Students continue to borrow at levels that are high by historical standards, but that represent a retreat from the soaring debt levels of a few years ago. New data allow a clear focus on the characteristics of students who are most at risk from debt. As this report documents, those who do not graduate are particularly vulnerable. Older, independent students, those who take longer to earn their degrees, African-American students, and those who attend for-profit institutions accumulate more debt than others. [For the companion report, "Trends in College Pricing, 2015. Trends in Higher Education Series," see ED572540. For the report from the previous year, "Trends in Student Aid, 2014. Trends in Higher Education Series," see ED572552.]