Students who attend institutions of higher education obtain a wide range of personal, financial, and other lifelong benefits; likewise, taxpayers and society as a whole derive a multitude of direct and indirect benefits when citizens have access to postsecondary education. Accordingly, uneven rates of participation in higher education across different segments of U.S. society should be a matter of urgent concern not only to the individuals directly affected, but also to public policymakers at the federal, state, and local levels. This report presents detailed evidence of the private and public benefits of higher education. It also sheds light on the distribution of these benefits by examining both the increases and the persistent disparities in college participation and completion. (Contains 48 figures.) [For related reports, see "Trends in Student Aid, 2011. Trends in Higher Education Series" (ED526356) and "Trends in College Pricing, 2011. Trends in Higher Education Series" (ED526358).]